Acelyrin (NASDAQ:SLRN) Shares Down 5% – Should You Sell?

Acelyrin, Inc. (NASDAQ:SLRN) shares fell 5% during trading on Thursday . The stock traded as low as $5.53 and last traded at $5.68. 86,536 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,023,090 shares. The stock had previously closed at $5.98.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLRN. Piper Sandler reduced their target price on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. HC Wainwright cut shares of Acelyrin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $6.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley decreased their price target on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.17.

Acelyrin Price Performance

The firm has a market cap of $520.00 million, a price-to-earnings ratio of -1.90 and a beta of 1.98. The business’s 50-day moving average price is $5.39 and its two-hundred day moving average price is $5.01.

Acelyrin (NASDAQ:SLRN) last released its quarterly earnings results 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 business earned ($0.56) EPS. Equities analysts predict that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acelyrin

Several large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its stake in Acelyrin by 118.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after buying an additional 3,921 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Acelyrin by 16.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after buying an additional 4,163 shares during the last quarter. US Bancorp DE lifted its stake in Acelyrin by 77.1% in the third quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after buying an additional 7,336 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Acelyrin by 65.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock valued at $95,000 after buying an additional 7,560 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Acelyrin by 69.9% in the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock valued at $134,000 after buying an additional 8,176 shares during the last quarter. 87.31% of the stock is currently owned by institutional investors.

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.