Acelyrin, Inc. (NASDAQ:SLRN) Short Interest Update

Acelyrin, Inc. (NASDAQ:SLRN) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 4,720,000 shares, a drop of 19.6% from the January 31st total of 5,870,000 shares. Based on an average daily volume of 1,930,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 6.5% of the shares of the stock are sold short.

Acelyrin Stock Down 2.9 %

SLRN traded down $0.08 during trading on Thursday, hitting $2.50. 34,283 shares of the stock were exchanged, compared to its average volume of 2,714,905. Acelyrin has a 1-year low of $1.85 and a 1-year high of $8.70. The stock has a fifty day moving average price of $2.34 and a two-hundred day moving average price of $3.98. The firm has a market capitalization of $250.31 million, a P/E ratio of -1.01 and a beta of 1.25.

Institutional Investors Weigh In On Acelyrin

A number of institutional investors have recently added to or reduced their stakes in SLRN. Geode Capital Management LLC grew its holdings in Acelyrin by 30.8% during the third quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock worth $8,144,000 after acquiring an additional 388,631 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Acelyrin by 81.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock worth $3,006,000 after buying an additional 273,604 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Acelyrin by 566.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 250,300 shares of the company’s stock worth $1,234,000 after buying an additional 212,758 shares during the last quarter. Acuta Capital Partners LLC purchased a new stake in Acelyrin in the 3rd quarter valued at approximately $1,795,000. Finally, HighTower Advisors LLC acquired a new stake in Acelyrin during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLRN shares. Wells Fargo & Company dropped their price target on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Citigroup cut their target price on Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, 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 report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.60.

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.