Acelyrin (NASDAQ:SLRN) Price Target Cut to $3.00 by Analysts at Citigroup

Acelyrin (NASDAQ:SLRN) had its price objective dropped by investment analysts at Citigroup from $6.00 to $3.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 40.19% from the company’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company lowered their target price on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. HC Wainwright dropped their price objective on Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.60.

Acelyrin Stock Performance

NASDAQ:SLRN opened at $2.14 on Tuesday. The firm has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $4.86. Acelyrin has a one year low of $1.91 and a one year high of $8.89. The firm has a market cap of $214.70 million, a P/E ratio of -0.87 and a beta of 1.94.

Institutional Trading of Acelyrin

Several hedge funds and other institutional investors have recently made changes to their positions in SLRN. Millennium Management LLC grew its stake in Acelyrin by 15.7% during the 2nd quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock worth $20,471,000 after buying an additional 628,528 shares during the last quarter. Blue Owl Capital Holdings LP grew its stake in shares of Acelyrin by 3.5% during the second quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock worth $12,904,000 after acquiring an additional 100,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Acelyrin by 30.8% during the third quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock valued at $8,144,000 after acquiring an additional 388,631 shares in the last quarter. State Street Corp raised its position in shares of Acelyrin by 10.0% in the 3rd quarter. State Street Corp now owns 1,273,096 shares of the company’s stock valued at $6,276,000 after purchasing an additional 116,094 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Acelyrin by 81.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock worth $3,006,000 after purchasing an additional 273,604 shares in the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

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.