Acelyrin (NASDAQ:SLRN) Price Target Cut to $18.00

Acelyrin (NASDAQ:SLRN) had its target price reduced by equities research analysts at HC Wainwright from $28.00 to $18.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 268.85% from the company’s current price.

Separately, Wells Fargo & Company upped their price objective on Acelyrin from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Acelyrin Stock Performance

NASDAQ SLRN traded up $0.09 during trading hours on Thursday, hitting $4.88. 1,164,065 shares of the company traded hands, compared to its average volume of 1,181,970. The business’s 50-day moving average is $6.30 and its 200-day moving average is $7.29. The stock has a market capitalization of $482.70 million and a price-to-earnings ratio of -0.46. Acelyrin has a twelve month low of $4.14 and a twelve month high of $29.88.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.25. Analysts predict that Acelyrin will post -4.18 EPS for the current year.

Insider Activity

In other Acelyrin news, CEO Shao-Lee Lin sold 15,701 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total transaction of $119,327.60. Following the transaction, the chief executive officer now owns 1,587,335 shares in the company, valued at approximately $12,063,746. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Acelyrin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank bought a new position in Acelyrin during the 3rd quarter worth $44,000. Strs Ohio acquired a new position in Acelyrin in the third quarter valued at about $71,000. New York State Common Retirement Fund bought a new stake in Acelyrin during the third quarter worth about $73,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Acelyrin by 608.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock worth $80,000 after buying an additional 9,203 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in Acelyrin in the 4th quarter valued at about $84,000. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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.