Acelyrin, Inc. (NASDAQ:SLRN – Get Free Report) shares gapped down prior to trading on Wednesday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. The stock had previously closed at $12.80, but opened at $12.37. Morgan Stanley now has a $19.00 price target on the stock. Acelyrin shares last traded at $11.15, with a volume of 377,547 shares.
Several other research firms have also commented on SLRN. TD Cowen initiated coverage on shares of Acelyrin in a research report on Tuesday, May 30th. They set an “outperform” rating on the stock. Piper Sandler assumed coverage on shares of Acelyrin in a report on Tuesday, May 30th. They issued an “overweight” rating and a $68.00 target price for the company. HC Wainwright dropped their target price on shares of Acelyrin from $44.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Jefferies Financial Group initiated coverage on shares of Acelyrin in a report on Tuesday, May 30th. They issued a “buy” rating and a $31.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.
Institutional Trading of Acelyrin
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. acquired a new position in shares of Acelyrin in the second quarter worth $25,000. Tower Research Capital LLC TRC acquired a new position in shares of Acelyrin during the 2nd quarter valued at $64,000. Zimmer Partners LP acquired a new stake in Acelyrin in the 2nd quarter valued at $251,000. Bank of New York Mellon Corp purchased a new position in Acelyrin in the second quarter valued at about $276,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Acelyrin during the second quarter worth about $322,000. Hedge funds and other institutional investors own 94.68% of the company’s stock.
Acelyrin Price Performance
The firm has a 50-day moving average price of $24.24.
Acelyrin (NASDAQ:SLRN – Get Free Report) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.25. On average, analysts predict that Acelyrin, Inc. will post -7.04 earnings per share for the current fiscal year.
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.