Acelyrin (NASDAQ:SLRN) Trading Up 1.2% – Here’s What Happened

Acelyrin, Inc. (NASDAQ:SLRN)’s stock price shot up 1.2% during mid-day trading on Wednesday . The company traded as high as $2.65 and last traded at $2.60. 2,398,586 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 2,864,189 shares. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

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

Acelyrin Trading Up 1.2 %

The business’s 50 day simple moving average is $2.39 and its 200 day simple moving average is $4.04. The firm has a market capitalization of $260.85 million, a PE ratio of -1.06 and a beta of 1.86.

Institutional Trading of Acelyrin

Large investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in Acelyrin by 28.5% in the 4th quarter. ProShare Advisors LLC now owns 25,307 shares of the company’s stock worth $79,000 after purchasing an additional 5,617 shares during the period. US Bancorp DE lifted its position in shares of Acelyrin by 77.1% during the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company’s stock worth $83,000 after purchasing an additional 7,336 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Acelyrin by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock worth $95,000 after purchasing an additional 7,560 shares during the last quarter. Wells Fargo & Company MN grew its position in Acelyrin by 21.9% during the 4th quarter. Wells Fargo & Company MN now owns 52,014 shares of the company’s stock worth $163,000 after purchasing an additional 9,332 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Acelyrin in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

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.