Bank of New York Mellon Corp Boosts Holdings in Acelyrin, Inc. (NASDAQ:SLRN)

Bank of New York Mellon Corp lifted its stake in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,395 shares of the company’s stock after purchasing an additional 41,058 shares during the period. Bank of New York Mellon Corp owned about 0.23% of Acelyrin worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in Acelyrin by 58,570.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after buying an additional 14,057 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Acelyrin in the second quarter worth about $51,000. Virtu Financial LLC acquired a new position in Acelyrin during the first quarter worth about $147,000. Jacobs Levy Equity Management Inc. acquired a new stake in Acelyrin in the 1st quarter valued at about $3,961,000. Finally, Kennedy Capital Management LLC lifted its stake in Acelyrin by 2.6% in the 1st quarter. Kennedy Capital Management LLC now owns 486,560 shares of the company’s stock worth $3,284,000 after purchasing an additional 12,554 shares in the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SLRN. HC Wainwright downgraded Acelyrin from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $6.00 in a research report on Wednesday, August 14th. Morgan Stanley reduced their target price 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. Wells Fargo & Company upgraded 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. Finally, Piper Sandler decreased their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a 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 data from MarketBeat, Acelyrin presently has an average rating of “Moderate Buy” and a consensus target price of $10.83.

Acelyrin Price Performance

Shares of SLRN opened at $5.39 on Friday. The firm has a 50-day simple moving average of $5.26 and a two-hundred day simple moving average of $5.25. The stock has a market cap of $537.98 million, a PE ratio of -2.26 and a beta of 2.34. Acelyrin, Inc. has a 1-year low of $3.36 and a 1-year high of $10.70.

Acelyrin (NASDAQ:SLRN) last posted its earnings results 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 in the previous year, the business posted ($0.56) EPS. As a group, sell-side analysts expect that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

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.