Acelyrin, Inc. (NASDAQ:SLRN) Sees Large Decline in Short Interest

Acelyrin, Inc. (NASDAQ:SLRN) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 5,160,000 shares, a decrease of 19.2% from the September 30th total of 6,390,000 shares. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is presently 5.1 days. Approximately 8.0% of the shares of the company are sold short.

Acelyrin Price Performance

Shares of NASDAQ:SLRN remained flat at $5.97 during trading on Friday. 318,292 shares of the stock were exchanged, compared to its average volume of 1,064,310. The company has a market capitalization of $591.19 million, a price-to-earnings ratio of -2.51 and a beta of 2.33. The business’s 50-day simple moving average is $5.07 and its two-hundred day simple moving average is $4.93. Acelyrin has a fifty-two week low of $3.36 and a fifty-two week high of $10.50.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same quarter in the previous year, the firm posted ($0.56) earnings per share. On average, sell-side analysts expect that Acelyrin will post -3.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Acelyrin

Hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its holdings in Acelyrin by 118.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after purchasing an additional 3,921 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Acelyrin by 16.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after buying an additional 4,163 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Acelyrin by 65.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock valued at $95,000 after buying an additional 7,560 shares in the last quarter. ProShare Advisors LLC grew its stake in Acelyrin by 69.9% in the 1st quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock valued at $134,000 after acquiring an additional 8,176 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Acelyrin in the 2nd quarter worth $49,000. 87.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SLRN has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Piper Sandler dropped their price target on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, HC Wainwright downgraded Acelyrin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.17.

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.