Acelyrin (NASDAQ:SLRN) Shares Gap Up to $4.60

Acelyrin, Inc. (NASDAQ:SLRN)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $4.60, but opened at $4.86. Acelyrin shares last traded at $5.25, with a volume of 374,585 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SLRN shares. Wells Fargo & Company raised shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a report on Monday, July 8th. HC Wainwright cut Acelyrin from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $6.00 in a report on Wednesday, August 14th. Morgan Stanley decreased their price target on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Piper Sandler cut their price objective on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock 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 currently has an average rating of “Moderate Buy” and a consensus price target of $10.83.

Acelyrin Trading Up 1.7 %

The company has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $5.27. The company has a market cap of $537.98 million, a P/E ratio of -2.26 and a beta of 2.34.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same period in the previous year, the company posted ($0.56) EPS. On average, equities analysts forecast that Acelyrin, Inc. will post -3.08 EPS for the current fiscal year.

Institutional Trading of Acelyrin

Institutional investors and hedge funds have recently modified their holdings of the stock. Blair William & Co. IL purchased a new stake in shares of Acelyrin in the 1st quarter worth $936,000. Jacobs Levy Equity Management Inc. purchased a new position in Acelyrin during the 1st quarter valued at about $3,961,000. Acadian Asset Management LLC purchased a new stake in shares of Acelyrin in the 2nd quarter worth approximately $590,000. Los Angeles Capital Management LLC bought a new position in shares of Acelyrin during the second quarter valued at approximately $693,000. Finally, Vanguard Group Inc. increased its holdings in 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 buying an additional 81,633 shares during the period. Institutional investors own 87.31% of the company’s stock.

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.