Acelyrin, Inc. (NASDAQ:SLRN) Short Interest Update

Acelyrin, Inc. (NASDAQ:SLRN) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 5,730,000 shares, a growth of 21.9% from the October 31st total of 4,700,000 shares. Currently, 7.9% of the shares of the company are sold short. Based on an average daily trading volume, of 683,700 shares, the days-to-cover ratio is currently 8.4 days.

Acelyrin Stock Down 0.4 %

NASDAQ:SLRN traded down $0.02 during midday trading on Friday, hitting $4.55. The company had a trading volume of 182,927 shares, compared to its average volume of 461,882. Acelyrin has a 52-week low of $3.36 and a 52-week high of $8.89. The stock’s fifty day moving average price is $5.36 and its 200-day moving average price is $5.02.

Hedge Funds Weigh In On Acelyrin

Several institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Acelyrin in the 3rd quarter worth approximately $50,000. HighTower Advisors LLC purchased a new stake in shares of Acelyrin in the 3rd quarter valued at $50,000. Principal Financial Group Inc. bought a new position in shares of Acelyrin during the 2nd quarter valued at $49,000. SG Americas Securities LLC bought a new position in shares of Acelyrin during the 2nd quarter valued at $51,000. Finally, Nisa Investment Advisors LLC raised its position in Acelyrin by 58,570.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after purchasing an additional 14,057 shares during the period. 87.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SLRN has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price objective on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Piper Sandler reduced their price objective on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Finally, HC Wainwright increased their target price on shares of Acelyrin from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.40.

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.