Acelyrin (NASDAQ:SLRN) Sees Unusually-High Trading Volume

Shares of Acelyrin, Inc. (NASDAQ:SLRN) saw an uptick in trading volume on Wednesday . 1,517,849 shares traded hands during mid-day trading, an increase of 39% from the previous session’s volume of 1,095,688 shares.The stock last traded at $5.97 and had previously closed at $6.12.

Wall Street Analyst Weigh In

A number of research analysts have commented on SLRN shares. Wells Fargo & Company upgraded Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research report on Monday, July 8th. HC Wainwright boosted their price target on shares of Acelyrin from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Acelyrin currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.80.

Acelyrin Price Performance

The stock has a 50 day moving average of $4.97 and a 200 day moving average of $5.98.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.57. Equities analysts expect that Acelyrin, Inc. will post -3.33 EPS for the current year.

Hedge Funds Weigh In On Acelyrin

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings in Acelyrin by 118.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after buying an additional 3,921 shares during the period. New York State Common Retirement Fund grew its position in Acelyrin by 84.4% during the fourth quarter. New York State Common Retirement Fund now owns 13,181 shares of the company’s stock valued at $98,000 after buying an additional 6,032 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Acelyrin by 66.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $126,000 after purchasing an additional 7,459 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Acelyrin by 69.9% in the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock valued at $134,000 after buying an additional 8,176 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Acelyrin by 608.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock valued at $80,000 after purchasing an additional 9,203 shares during the last quarter. 87.31% of the stock is currently owned by 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.