Acelyrin (NASDAQ:SLRN) Downgraded to Neutral at HC Wainwright

HC Wainwright cut shares of Acelyrin (NASDAQ:SLRN) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat.com reports. They currently have $6.00 price objective on the stock, down from their prior price objective of $18.00. HC Wainwright also issued estimates for Acelyrin’s Q3 2024 earnings at ($1.08) EPS, Q4 2024 earnings at ($1.05) EPS, FY2024 earnings at ($3.35) EPS, FY2025 earnings at ($2.63) EPS, FY2026 earnings at ($3.23) EPS, FY2027 earnings at ($2.22) EPS and FY2028 earnings at ($1.49) EPS.

Separately, Wells Fargo & Company raised Acelyrin from an equal weight rating to an overweight rating and set a $13.00 price objective on the stock in a research note on Monday, July 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $12.00.

Acelyrin Trading Up 3.8 %

Shares of SLRN opened at $4.13 on Wednesday. The stock has a market cap of $412.22 million, a P/E ratio of -1.74 and a beta of 2.35. The stock’s 50-day moving average price is $5.10 and its two-hundred day moving average price is $5.82. Acelyrin has a 1 year low of $3.36 and a 1 year high of $29.88.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same quarter in the previous year, the business posted ($0.56) EPS. As a group, equities analysts forecast that Acelyrin will post -2.95 EPS for the current year.

Institutional Investors Weigh In On Acelyrin

Several large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its stake in Acelyrin by 118.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock worth $49,000 after purchasing an additional 3,921 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Acelyrin during the second quarter worth about $49,000. SG Americas Securities LLC acquired a new position in shares of Acelyrin during the second quarter worth about $51,000. Nisa Investment Advisors LLC grew its holdings in shares of Acelyrin by 58,570.8% during the second quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after buying an additional 14,057 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Acelyrin by 608.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock valued at $80,000 after buying an additional 9,203 shares during the last quarter. Institutional investors own 87.31% of the company’s stock.

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.