Kennedy Capital Management LLC Grows Stake in Acelyrin, Inc. (NASDAQ:SLRN)

Kennedy Capital Management LLC boosted its stake in Acelyrin, Inc. (NASDAQ:SLRN) by 2.6% during the 1st quarter, Holdings Channel reports. The firm owned 486,560 shares of the company’s stock after buying an additional 12,554 shares during the quarter. Kennedy Capital Management LLC’s holdings in Acelyrin were worth $3,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Acelyrin by 3.8% in the third quarter. Vanguard Group Inc. now owns 3,189,027 shares of the company’s stock worth $32,432,000 after acquiring an additional 116,847 shares in the last quarter. SG Americas Securities LLC bought a new position in Acelyrin in the fourth quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Acelyrin during the fourth quarter valued at $84,000. Vontobel Holding Ltd. purchased a new position in Acelyrin during the 4th quarter valued at about $2,429,000. Finally, Strs Ohio raised its stake in Acelyrin by 504.3% in the fourth quarter. Strs Ohio now owns 42,300 shares of the company’s stock worth $315,000 after buying an additional 35,300 shares in the last quarter. 87.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SLRN. Wells Fargo & Company upgraded shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Monday, July 8th. HC Wainwright boosted their target price on shares of Acelyrin from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.80.

Acelyrin Stock Up 1.5 %

SLRN traded up $0.09 during trading on Wednesday, hitting $6.21. The company’s stock had a trading volume of 1,682,410 shares, compared to its average volume of 1,096,614. The business’s fifty day simple moving average is $4.91 and its 200 day simple moving average is $5.98. Acelyrin, Inc. has a twelve month low of $3.67 and a twelve month high of $29.88.

Acelyrin (NASDAQ:SLRN) last issued its earnings results on Tuesday, May 14th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.93) by $0.57. Analysts predict that Acelyrin, Inc. will post -3.33 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.