Acelyrin (NASDAQ:SLRN) Downgraded by HC Wainwright to Neutral

HC Wainwright lowered shares of Acelyrin (NASDAQ:SLRN) from a buy rating to a neutral rating in a research note released on Wednesday, Marketbeat reports. HC Wainwright currently has $6.00 price objective on the stock, down from their previous price objective of $18.00.

Separately, Wells Fargo & Company upgraded Acelyrin from an equal weight rating to an overweight rating and set a $13.00 price target for the company in a report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $12.00.

Acelyrin Price Performance

NASDAQ SLRN remained flat at $4.06 during trading on Wednesday. The company’s stock had a trading volume of 972,800 shares, compared to its average volume of 1,128,803. Acelyrin has a 12-month low of $3.36 and a 12-month high of $29.88. The company has a market capitalization of $402.06 million, a price-to-earnings ratio of -1.71 and a beta of 2.35. The stock has a fifty day moving average price of $5.11 and a two-hundred day moving average price of $5.87.

Acelyrin (NASDAQ:SLRN) last announced 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 in the previous year, the business posted ($0.56) earnings per share. As a group, sell-side analysts expect that Acelyrin will post -3.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL bought a new position in shares of Acelyrin in the 1st quarter valued at approximately $936,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Acelyrin in the 1st quarter valued at approximately $3,961,000. Vontobel Holding Ltd. bought a new position in shares of Acelyrin in the 4th quarter valued at approximately $2,429,000. Superstring Capital Management LP bought a new position in Acelyrin in the 4th quarter worth approximately $2,663,000. Finally, Vanguard Group Inc. increased its position in Acelyrin by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock worth $42,103,000 after buying an additional 81,633 shares during the period. 87.31% of the stock is 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.