Analysts Set Acelyrin, Inc. (NASDAQ:SLRN) Target Price at $12.00

Shares of Acelyrin, Inc. (NASDAQ:SLRN) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $12.00.

SLRN has been the topic of several recent analyst reports. Piper Sandler cut their target price on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. HC Wainwright cut Acelyrin from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $6.00 in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company raised Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research note on Monday, July 8th.

Institutional Trading of Acelyrin

Several large investors have recently bought and sold shares of SLRN. Decheng Capital LLC bought a new stake in Acelyrin during the 4th quarter valued at approximately $10,227,000. Millennium Management LLC lifted its holdings in shares of Acelyrin by 15.7% during the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after purchasing an additional 628,528 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Acelyrin during the first quarter valued at approximately $3,961,000. Almitas Capital LLC purchased a new position in shares of Acelyrin during the second quarter valued at approximately $1,659,000. Finally, Superstring Capital Management LP purchased a new position in shares of Acelyrin during the fourth quarter valued at approximately $2,663,000. 87.31% of the stock is owned by institutional investors.

Acelyrin Trading Up 3.8 %

Shares of NASDAQ:SLRN opened at $4.13 on Wednesday. The stock’s 50-day moving average price is $5.10 and its 200-day moving average price is $5.80. Acelyrin has a 12-month low of $3.36 and a 12-month high of $29.88. The stock has a market capitalization of $412.22 million, a P/E ratio of -1.74 and a beta of 2.35.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same quarter in the previous year, the company earned ($0.56) earnings per share. As a group, research analysts predict that Acelyrin will post -2.95 EPS for the current year.

About Acelyrin

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.