Morgan Stanley Trims Acelyrin (NASDAQ:SLRN) Target Price to $6.00

Acelyrin (NASDAQ:SLRN) had its price objective trimmed by Morgan Stanley from $13.00 to $6.00 in a research note published on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on SLRN. Wells Fargo & Company upgraded shares of Acelyrin from an equal weight rating to an overweight rating and set a $13.00 price objective for the company in a report on Monday, July 8th. HC Wainwright downgraded shares of Acelyrin from a buy rating to a neutral rating and dropped their price target for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th. Finally, Piper Sandler cut their price target on shares of Acelyrin from $68.00 to $20.00 and set an overweight rating on the stock in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Acelyrin presently has a consensus rating of Moderate Buy and a consensus target price of $10.83.

Acelyrin Price Performance

Shares of Acelyrin stock opened at $4.54 on Monday. The company’s 50 day moving average price is $5.10 and its two-hundred day moving average price is $5.74. The firm has a market capitalization of $453.14 million, a P/E ratio of -1.91 and a beta of 2.35. Acelyrin has a fifty-two week low of $3.36 and a fifty-two week high of $29.88.

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

Hedge Funds Weigh In On Acelyrin

Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its holdings in Acelyrin by 118.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock worth $49,000 after acquiring an additional 3,921 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Acelyrin during the 2nd quarter valued at about $49,000. SG Americas Securities LLC acquired a new stake in Acelyrin during the second quarter worth approximately $51,000. Nisa Investment Advisors LLC increased its holdings in Acelyrin by 58,570.8% in the second quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after purchasing an additional 14,057 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Acelyrin by 608.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock valued at $80,000 after buying an additional 9,203 shares during the period. Institutional investors 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.