Acelyrin (NASDAQ:SLRN) Given New $8.00 Price Target at HC Wainwright

Acelyrin (NASDAQ:SLRN) had its price objective raised by HC Wainwright from $6.00 to $8.00 in a research note published on Thursday,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler decreased their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Wells Fargo & Company increased their price target on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley dropped their price objective on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Acelyrin Stock Performance

SLRN stock opened at $4.69 on Thursday. The company has a market capitalization of $470.55 million, a price-to-earnings ratio of -1.91 and a beta of 1.98. The business’s 50 day moving average price is $5.41 and its two-hundred day moving average price is $5.02. Acelyrin has a fifty-two week low of $3.36 and a fifty-two week high of $9.20.

Hedge Funds Weigh In On Acelyrin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in Acelyrin during the 1st quarter valued at about $183,000. ProShare Advisors LLC lifted its stake in shares of Acelyrin by 69.9% in the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock worth $134,000 after buying an additional 8,176 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Acelyrin during the first quarter valued at approximately $936,000. Vanguard Group Inc. increased its position in shares of Acelyrin by 1.3% during the first 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 in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Acelyrin by 118.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock worth $49,000 after acquiring an additional 3,921 shares during the last quarter. 87.31% of the stock is currently owned by 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.