Acelyrin, Inc. (NASDAQ:SLRN – Get Free Report) shares fell 6.1% during trading on Monday . The company traded as low as $6.56 and last traded at $6.57. 121,429 shares were traded during trading, a decline of 89% from the average session volume of 1,088,777 shares. The stock had previously closed at $7.00.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on SLRN. Wells Fargo & Company raised shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research report on Monday, July 8th. HC Wainwright lifted their target price on shares of Acelyrin from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.80.
Read Our Latest Stock Report on Acelyrin
Acelyrin Price Performance
Acelyrin (NASDAQ:SLRN – Get Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.57. As a group, equities research analysts anticipate that Acelyrin, Inc. will post -3.33 earnings per share for the current fiscal year.
Institutional Trading of Acelyrin
A number of institutional investors and hedge funds have recently modified their holdings of SLRN. Vanguard Group Inc. lifted its stake in shares of Acelyrin by 3.8% in the third quarter. Vanguard Group Inc. now owns 3,189,027 shares of the company’s stock worth $32,432,000 after buying an additional 116,847 shares during the last quarter. SG Americas Securities LLC bought a new position in Acelyrin during the fourth quarter worth $110,000. China Universal Asset Management Co. Ltd. bought a new position in Acelyrin during the fourth quarter worth $84,000. Vontobel Holding Ltd. bought a new position in Acelyrin during the fourth quarter worth $2,429,000. Finally, Strs Ohio increased its position in Acelyrin by 504.3% during the fourth quarter. Strs Ohio now owns 42,300 shares of the company’s stock worth $315,000 after acquiring an additional 35,300 shares during the period. 87.31% of the stock is currently owned by institutional investors and hedge funds.
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.
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