Acelyrin (NASDAQ:SLRN) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Acelyrin (NASDAQ:SLRN) from an equal weight rating to an overweight rating in a research note published on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has $13.00 price objective on the stock.

Separately, HC Wainwright lifted their price objective on Acelyrin from $16.00 to $18.00 and gave the stock a buy rating in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $12.80.

Acelyrin Stock Performance

Shares of NASDAQ SLRN opened at $5.83 on Monday. The firm has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $6.08. The stock has a market cap of $577.34 million, a P/E ratio of -2.45 and a beta of 2.56. Acelyrin has a 52-week low of $3.67 and a 52-week high of $29.88.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.93) by $0.57. Analysts predict that Acelyrin will post -3.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acelyrin

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 81,633 shares during the period. Decheng Capital LLC bought a new stake in Acelyrin in the 4th quarter valued at about $10,227,000. StemPoint Capital LP increased its position in Acelyrin by 21.7% in the 1st quarter. StemPoint Capital LP now owns 714,773 shares of the company’s stock valued at $4,825,000 after buying an additional 127,400 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Acelyrin during the 1st quarter worth approximately $3,961,000. Finally, Kennedy Capital Management LLC boosted its holdings in Acelyrin by 2.6% in the first quarter. Kennedy Capital Management LLC now owns 486,560 shares of the company’s stock worth $3,284,000 after acquiring an additional 12,554 shares in the last quarter. Institutional investors and hedge funds 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.