Acelyrin (NASDAQ:SLRN) Price Target Lowered to $13.00 at Wells Fargo & Company

Acelyrin (NASDAQ:SLRN) had its price objective reduced by Wells Fargo & Company from $15.00 to $13.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also recently weighed in on SLRN. Piper Sandler dropped their price objective on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. HC Wainwright reiterated a “neutral” rating and issued a $8.00 price target on shares of Acelyrin in a research report on Wednesday. Finally, Morgan Stanley cut their price target on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th.

Acelyrin Price Performance

SLRN stock opened at $3.41 on Wednesday. Acelyrin has a fifty-two week low of $3.18 and a fifty-two week high of $8.89. The stock has a market capitalization of $342.13 million, a price-to-earnings ratio of -1.39 and a beta of 1.63. The business’s fifty day moving average price is $5.24 and its two-hundred day moving average price is $5.01.

Institutional Trading of Acelyrin

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in Acelyrin by 36.9% in the third quarter. Franklin Resources Inc. now owns 128,591 shares of the company’s stock valued at $634,000 after acquiring an additional 34,642 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Acelyrin in the 3rd quarter valued at $50,000. Barclays PLC raised its holdings in shares of Acelyrin by 208.8% during the 3rd quarter. Barclays PLC now owns 96,408 shares of the company’s stock worth $475,000 after buying an additional 65,188 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Acelyrin by 30.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock worth $8,144,000 after buying an additional 388,631 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Acelyrin by 54.6% in the third quarter. Public Employees Retirement System of Ohio now owns 102,347 shares of the company’s stock valued at $505,000 after acquiring an additional 36,154 shares during the last quarter. Institutional investors own 87.31% of the company’s stock.

About Acelyrin

Acelyrin, Inc, a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company's lead product candidate is izokibep, a small protein therapeutic designed to inhibit IL-17A with high potency, which is in Phase 3 clinical trials for use in the treatment of Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as in Phase 2 clinical trials for use in the treatment of Axial Spondyloarthritis.