Acelyrin (NASDAQ:SLRN) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Acelyrin (NASDAQ:SLRN) in a report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $16.00 target price on the stock.

Separately, Wells Fargo & Company lifted their price objective on Acelyrin from $11.00 to $13.00 and gave the company an equal weight rating in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $21.67.

Acelyrin Stock Performance

Shares of SLRN stock traded down $0.09 on Wednesday, hitting $4.65. The company’s stock had a trading volume of 279,859 shares, compared to its average volume of 1,150,943. Acelyrin has a fifty-two week low of $4.14 and a fifty-two week high of $29.88. The company has a market capitalization of $459.93 million and a PE ratio of -0.44. The stock’s 50 day moving average is $5.93 and its 200-day moving average is $7.11.

Acelyrin (NASDAQ:SLRN) last announced its earnings results on Thursday, March 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.25. On average, research analysts forecast that Acelyrin will post -3.88 earnings per share for the current year.

Insider Buying and Selling

In other Acelyrin news, CEO Shao-Lee Lin sold 15,701 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $7.60, for a total transaction of $119,327.60. Following the completion of the transaction, the chief executive officer now directly owns 1,587,335 shares in the company, valued at $12,063,746. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acelyrin

A number of institutional investors have recently modified their holdings of SLRN. Amalgamated Bank bought a new position in Acelyrin in the third quarter valued at about $44,000. Strs Ohio bought a new stake in shares of Acelyrin during the 3rd quarter valued at approximately $71,000. New York State Common Retirement Fund acquired a new position in Acelyrin during the 3rd quarter worth approximately $73,000. Ameritas Investment Partners Inc. lifted its stake in Acelyrin by 118.0% in the 1st 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Acelyrin by 608.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock valued at $80,000 after buying an additional 9,203 shares in the last quarter. Institutional investors and hedge funds 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.