Acelyrin (NASDAQ:SLRN) Stock Price Down 5% – Time to Sell?

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

Analysts Set New Price Targets

Several research firms have weighed in on SLRN. Morgan Stanley decreased their price target on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. HC Wainwright boosted their target price on Acelyrin from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler dropped their price target on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company raised their price objective on Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Acelyrin presently has an average rating of “Moderate Buy” and an average price target of $11.50.

Acelyrin Price Performance

The company’s fifty day moving average price is $5.41 and its 200 day moving average price is $5.02. The company has a market cap of $468.11 million, a PE ratio of -1.91 and a beta of 1.98.

Acelyrin (NASDAQ:SLRN) last announced its earnings results on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same quarter in the prior year, the firm posted ($0.56) EPS. On average, analysts forecast that Acelyrin, Inc. will post -3.08 EPS for the current year.

Institutional Trading of Acelyrin

Several institutional investors and hedge funds have recently made changes to their positions in SLRN. Ameritas Investment Partners Inc. raised its holdings in shares of 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 purchasing an additional 3,921 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Acelyrin during the second quarter worth about $49,000. HighTower Advisors LLC purchased a new stake in Acelyrin during the third quarter worth about $50,000. SG Americas Securities LLC purchased a new stake in Acelyrin during the second quarter worth about $51,000. Finally, Nisa Investment Advisors LLC increased its holdings in 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 during the last quarter. Hedge funds and other 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.