Acelyrin (NASDAQ:SLRN) Price Target Cut to $6.00 by Analysts at HC Wainwright

Acelyrin (NASDAQ:SLRN) had its target price lowered by analysts at HC Wainwright from $8.00 to $6.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 71.92% from the company’s current price.

Separately, Wells Fargo & Company lowered their target price on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th.

Acelyrin Trading Down 8.6 %

SLRN opened at $3.49 on Tuesday. Acelyrin has a 1-year low of $3.05 and a 1-year high of $8.89. The company has a market cap of $350.14 million, a price-to-earnings ratio of -1.42 and a beta of 1.94. The company’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $4.90.

Hedge Funds Weigh In On Acelyrin

Several large investors have recently bought and sold shares of SLRN. Principal Financial Group Inc. bought a new position in shares of Acelyrin during the second quarter valued at about $49,000. HighTower Advisors LLC purchased a new stake in Acelyrin in the 3rd quarter valued at about $50,000. Virtu Financial LLC bought a new position in shares of Acelyrin during the 3rd quarter worth approximately $50,000. Intech Investment Management LLC purchased a new position in shares of Acelyrin in the 3rd quarter worth approximately $77,000. Finally, US Bancorp DE boosted its stake in shares of Acelyrin by 77.1% in the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company’s stock worth $83,000 after buying an additional 7,336 shares during the last quarter. 87.31% of the stock is currently owned by institutional investors.

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.