Acelyrin (NASDAQ:SLRN) Stock Price Down 6.9% – Here’s What Happened

Acelyrin, Inc. (NASDAQ:SLRN)’s share price fell 6.9% during trading on Friday . The company traded as low as $6.01 and last traded at $6.03. 164,354 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,074,913 shares. The stock had previously closed at $6.48.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler lowered their target price on 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 downgraded shares of Acelyrin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th. Finally, 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Acelyrin has a consensus rating of “Moderate Buy” and a consensus price target of $11.17.

Acelyrin Stock Performance

The business has a 50 day moving average price of $4.87 and a 200-day moving average price of $4.94. The company has a market capitalization of $616.83 million, a price-to-earnings ratio of -2.12 and a beta of 2.33.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same quarter last year, the company posted ($0.56) earnings per share. As a group, equities analysts predict that Acelyrin, Inc. will post -3.08 EPS for the current fiscal year.

Institutional Trading of Acelyrin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Acelyrin by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock valued at $42,103,000 after acquiring an additional 81,633 shares during the period. Millennium Management LLC boosted its stake in Acelyrin by 15.7% in the 2nd quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock worth $20,471,000 after purchasing an additional 628,528 shares during the period. Blue Owl Capital Holdings LP grew its holdings in Acelyrin by 3.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock valued at $12,904,000 after buying an additional 100,000 shares in the last quarter. StemPoint Capital LP boosted its position in shares of Acelyrin by 21.7% in the first quarter. StemPoint Capital LP now owns 714,773 shares of the company’s stock valued at $4,825,000 after acquiring an additional 127,400 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Acelyrin during the 1st quarter worth approximately $3,961,000. 87.31% of the stock is owned by hedge funds and other institutional investors.

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.