Acelyrin (NASDAQ:SLRN) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Acelyrin (NASDAQ:SLRN) from an equal weight rating to an overweight rating in a research report report published on Monday morning, Marketbeat.com reports. They currently have $13.00 target price on the stock.

Separately, HC Wainwright upped their price objective on shares of Acelyrin from $16.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Acelyrin presently has an average rating of Moderate Buy and an average price target of $12.80.

Acelyrin Stock Up 13.6 %

Shares of SLRN stock opened at $5.83 on Monday. The stock has a fifty day moving average of $4.35 and a 200 day moving average of $6.08. The firm has a market capitalization of $577.34 million, a price-to-earnings ratio of -2.45 and a beta of 2.56. Acelyrin has a 52 week low of $3.67 and a 52 week high of $29.88.

Acelyrin (NASDAQ:SLRN) last announced its earnings results on Tuesday, May 14th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.57. Equities research analysts anticipate that Acelyrin will post -3.33 earnings per share for the current year.

Hedge Funds Weigh In On Acelyrin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLRN. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 81,633 shares in the last quarter. Decheng Capital LLC bought a new stake in Acelyrin in the 4th quarter worth about $10,227,000. StemPoint Capital LP raised its position in Acelyrin by 21.7% in the 1st quarter. StemPoint Capital LP now owns 714,773 shares of the company’s stock worth $4,825,000 after buying an additional 127,400 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Acelyrin during the 1st quarter valued at about $3,961,000. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Acelyrin by 2.6% during the 1st quarter. Kennedy Capital Management LLC now owns 486,560 shares of the company’s stock valued at $3,284,000 after acquiring an additional 12,554 shares during the last quarter. 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.