Short Interest in Acelyrin, Inc. (NASDAQ:SLRN) Decreases By 19.6%

Acelyrin, Inc. (NASDAQ:SLRN) saw a large decrease in short interest in February. As of February 15th, there was short interest totalling 4,720,000 shares, a decrease of 19.6% from the January 31st total of 5,870,000 shares. Approximately 6.5% of the company’s shares are short sold. Based on an average daily volume of 1,930,000 shares, the short-interest ratio is currently 2.4 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on SLRN. Wells Fargo & Company lowered their price target on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Citigroup cut their price target on Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, HC Wainwright reduced their price target on Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Acelyrin currently has a consensus rating of “Hold” and an average target price of $9.60.

Institutional Investors Weigh In On Acelyrin

Hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its position in Acelyrin by 77.1% in the third quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after acquiring an additional 7,336 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Acelyrin during the 3rd quarter valued at $77,000. Charles Schwab Investment Management Inc. lifted its holdings in Acelyrin by 81.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock worth $3,006,000 after buying an additional 273,604 shares in the last quarter. Acuta Capital Partners LLC purchased a new position in Acelyrin in the 3rd quarter valued at about $1,795,000. Finally, Martingale Asset Management L P acquired a new stake in shares of Acelyrin during the third quarter valued at about $485,000. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

Acelyrin Stock Performance

SLRN traded down $0.08 on Thursday, reaching $2.50. 34,283 shares of the company’s stock were exchanged, compared to its average volume of 2,714,905. Acelyrin has a twelve month low of $1.85 and a twelve month high of $8.70. The company’s 50 day moving average is $2.34 and its 200-day moving average is $3.98. The company has a market cap of $250.31 million, a price-to-earnings ratio of -1.01 and a beta of 1.25.

Acelyrin Company Profile

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.