Citigroup Has Lowered Expectations for Acelyrin (NASDAQ:SLRN) Stock Price

Acelyrin (NASDAQ:SLRN) had its price objective cut by Citigroup from $6.00 to $3.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently weighed in on SLRN. HC Wainwright dropped their price objective on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.60.

Acelyrin Price Performance

SLRN stock opened at $2.20 on Tuesday. Acelyrin has a fifty-two week low of $1.91 and a fifty-two week high of $8.89. The stock has a market capitalization of $220.72 million, a price-to-earnings ratio of -0.89 and a beta of 1.94. The business’s fifty day moving average price is $4.39 and its two-hundred day moving average price is $4.89.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Acelyrin by 22.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 223,395 shares of the company’s stock worth $985,000 after purchasing an additional 41,058 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Acelyrin in the second quarter valued at approximately $49,000. Rhumbline Advisers increased its stake in shares of Acelyrin by 25.3% in the second quarter. Rhumbline Advisers now owns 108,384 shares of the company’s stock valued at $478,000 after buying an additional 21,859 shares during the period. Los Angeles Capital Management LLC bought a new position in Acelyrin in the 2nd quarter valued at approximately $693,000. Finally, Acadian Asset Management LLC acquired a new stake in Acelyrin during the 2nd quarter worth approximately $590,000. 87.31% of the stock is currently owned by institutional investors.

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.