Analysts Set Acelyrin, Inc. (NASDAQ:SLRN) Target Price at $23.67

Shares of Acelyrin, Inc. (NASDAQ:SLRN) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $23.67.

A number of equities analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $28.00 target price on shares of Acelyrin in a research report on Monday, April 1st. Wells Fargo & Company lifted their target price on Acelyrin from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st.

Acelyrin Stock Down 2.8 %

SLRN stock opened at $4.88 on Friday. Acelyrin has a twelve month low of $4.76 and a twelve month high of $29.88. The firm has a market cap of $480.00 million and a price-to-earnings ratio of -0.46. The business’s fifty day simple moving average is $7.26 and its two-hundred day simple moving average is $7.83.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.25. Research analysts expect that Acelyrin will post -4.18 EPS for the current year.

Insider Buying and Selling at Acelyrin

In other Acelyrin news, CEO Shao-Lee Lin sold 15,701 shares of Acelyrin stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total value of $119,327.60. Following the transaction, the chief executive officer now owns 1,587,335 shares in the company, valued at $12,063,746. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Acelyrin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC acquired a new position in shares of Acelyrin during the third quarter worth $4,550,000. Rafferty Asset Management LLC acquired a new stake in shares of Acelyrin during the third quarter worth about $1,766,000. Barclays PLC purchased a new stake in Acelyrin in the third quarter valued at approximately $1,084,000. Schonfeld Strategic Advisors LLC raised its position in Acelyrin by 267.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 202,662 shares of the company’s stock worth $2,061,000 after buying an additional 147,454 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Acelyrin by 601.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 92,701 shares of the company’s stock valued at $943,000 after acquiring an additional 79,478 shares during the period. 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.