Acelyrin's Price Target Adjusted to $6.00 by HC Wainwright

On January 8, 2025, HC Wainwright adjusted its price target for Acelyrin (NASDAQ:SLRN) from $8.00 to $6.00. This change was detailed in a report released on Tuesday. Currently, HC Wainwright holds a neutral rating on the stock.

In a separate announcement, Wells Fargo & Company also revised their price target, reducing it from $15.00 to $13.00, and maintained an "overweight" rating for Acelyrin as of December 11. Overall, three market analysts have assigned a hold rating, while two suggest a buy recommendation. According to data from MarketBeat.com, Acelyrin has an average consensus rating of "Hold" and an expected average price target of $9.60.

Acelyrin's Stock Performance

As of Tuesday, Acelyrin's stock opened at $2.20. The company's market capitalization is approximately $220.72 million, with a PE ratio of -0.89 and a beta value of 1.94, indicating relatively higher volatility compared to the market. The stock has shown a 50-day simple moving average of $4.39 and a 200-day average of $4.89. Over the past year, it reached a low of $1.91 and a high of $8.89.

Institutional Trading Activity

There has been notable activity among institutional investors regarding Acelyrin's shares. For example, Bank of New York Mellon Corp increased its ownership in Acelyrin by 22.5% during the second quarter, now holding 223,395 shares valued at $985,000 after acquiring an additional 41,058 shares. Similarly, Principal Financial Group Inc. entered a new position worth approximately $49,000 in the same quarter. Rhumbline Advisers raised their stake by 25.3%, now owning 108,384 shares valued at $478,000 following an additional purchase of 21,859 shares. Los Angeles Capital Management LLC and Acadian Asset Management LLC both took new positions as well, valued at roughly $693,000 and $590,000, respectively. In total, over 87% of Acelyrin's stock is held by institutional investors and hedge funds.

About Acelyrin

Acelyrin, Inc. is a clinical biopharmaceutical firm dedicated to the identification, acquisition, and advancement of transformative medicines. The firm's primary product candidate is izokibep, a small protein therapeutic with high potency against IL-17A. This candidate is currently undergoing Phase 3 clinical trials for the treatment of conditions including Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, along with Phase 2 trials focused on Axial Spondyloarthritis.

Conclusion

The adjustments in price targets reflect a changing outlook for Acelyrin as it continues to progress through its clinical trials. Investors should remain vigilant regarding further updates from analysts and the performance of the company's stock as they navigate potential market movements.

Acelyrin, SLRN, Investment