Acelyrin (NASDAQ:SLRN) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Acelyrin (NASDAQ:SLRN) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

Separately, Wells Fargo & Company upped their target price on Acelyrin from $11.00 to $13.00 and gave the stock an equal weight rating in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $21.67.

Acelyrin Stock Performance

Shares of SLRN stock traded down $0.09 during trading on Wednesday, hitting $4.65. 279,859 shares of the company were exchanged, compared to its average volume of 1,150,943. The firm has a market capitalization of $459.93 million and a price-to-earnings ratio of -0.44. The business’s 50-day simple moving average is $5.93 and its 200 day simple moving average is $7.11. Acelyrin has a twelve month low of $4.14 and a twelve month high of $29.88.

Acelyrin (NASDAQ:SLRN) last issued its earnings results on Thursday, March 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.25. On average, equities analysts forecast that Acelyrin will post -3.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Acelyrin

In other news, CEO Shao-Lee Lin sold 15,701 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total transaction of $119,327.60. Following the completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Acelyrin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Acelyrin by 20.2% in the third quarter. FMR LLC now owns 8,961,726 shares of the company’s stock valued at $89,914,000 after purchasing an additional 1,505,488 shares during the period. Vanguard Group Inc. raised its holdings 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 acquiring an additional 81,633 shares during the period. Decheng Capital LLC acquired a new position in Acelyrin during the 4th quarter worth $10,227,000. Kynam Capital Management LP bought a new stake in Acelyrin during the third quarter valued at about $12,204,000. Finally, StemPoint Capital LP grew its position in shares of Acelyrin by 21.7% in the first quarter. StemPoint Capital LP now owns 714,773 shares of the company’s stock valued at $4,825,000 after purchasing an additional 127,400 shares during the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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.