Acelyrin, Inc. (NASDAQ:SLRN) Given Average Recommendation of “Moderate Buy” by Analysts

Acelyrin, Inc. (NASDAQ:SLRN) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $10.83.

Several research firms have recently weighed in on SLRN. Wells Fargo & Company raised Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research note on Monday, July 8th. HC Wainwright cut shares of Acelyrin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Piper Sandler dropped their price objective on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, 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 report on Monday, August 19th.

Acelyrin Stock Performance

Acelyrin stock opened at $4.58 on Thursday. Acelyrin has a 1 year low of $3.36 and a 1 year high of $10.70. The firm has a 50 day moving average price of $4.90 and a 200 day moving average price of $5.01. The company has a market cap of $457.13 million, a price-to-earnings ratio of -1.92 and a beta of 2.33.

Acelyrin (NASDAQ:SLRN) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same period last year, the business posted ($0.56) earnings per share. Sell-side analysts predict that Acelyrin will post -3.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blair William & Co. IL purchased a new position in Acelyrin in the first quarter valued at about $936,000. Acadian Asset Management LLC acquired a new stake in shares of Acelyrin during the second quarter worth approximately $590,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Acelyrin during the first quarter worth approximately $3,961,000. Los Angeles Capital Management LLC acquired a new stake in Acelyrin in the second quarter valued at $693,000. Finally, Almitas Capital LLC bought a new position in Acelyrin during the 2nd quarter valued at $1,659,000. 87.31% of the stock is currently owned by hedge funds and other 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.