Acelyrin (NASDAQ:SLRN) Price Target Lowered to $6.00 at HC Wainwright

Acelyrin (NASDAQ:SLRN) had its price target cut by research analysts at HC Wainwright from $8.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 180.37% from the company’s current price.

Separately, Wells Fargo & Company cut their price target on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.60.

Acelyrin Stock Performance

SLRN stock opened at $2.14 on Tuesday. Acelyrin has a one year low of $1.91 and a one year high of $8.89. The firm’s fifty day moving average is $4.23 and its 200 day moving average is $4.86. The firm has a market cap of $214.70 million, a PE ratio of -0.87 and a beta of 1.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLRN. Virtu Financial LLC acquired a new position in Acelyrin during the third quarter worth $50,000. HighTower Advisors LLC purchased a new position in Acelyrin in the third quarter worth approximately $50,000. Principal Financial Group Inc. acquired a new stake in Acelyrin during the second quarter worth $49,000. Intech Investment Management LLC purchased a new stake in Acelyrin in the third quarter valued at $77,000. Finally, US Bancorp DE lifted its stake in shares of Acelyrin by 77.1% in the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after purchasing an additional 7,336 shares during the last quarter. 87.31% of the stock is owned by hedge funds and other institutional investors.

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.