Acelyrin, Inc. (NASDAQ:SLRN) Short Interest Update

Acelyrin, Inc. (NASDAQ:SLRN) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 6,090,000 shares, a decrease of 15.4% from the August 31st total of 7,200,000 shares. Approximately 9.5% of the company’s stock are short sold. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is presently 5.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its stake in Acelyrin by 15.7% in the 2nd quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after acquiring an additional 628,528 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Acelyrin in the first quarter worth about $3,961,000. Almitas Capital LLC purchased a new position in shares of Acelyrin in the second quarter worth about $1,659,000. Superstring Capital Management LP bought a new stake in shares of Acelyrin in the fourth quarter valued at approximately $2,663,000. Finally, Sectoral Asset Management Inc. purchased a new stake in shares of Acelyrin during the 4th quarter valued at approximately $2,429,000. Institutional investors own 87.31% of the company’s stock.

Analysts Set New Price Targets

SLRN has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a research report on Monday, July 8th. HC Wainwright cut shares of Acelyrin from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $6.00 in a research report on Wednesday, August 14th. Morgan Stanley cut their target price on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Piper Sandler decreased their price target on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Acelyrin has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Acelyrin Stock Up 1.0 %

Acelyrin stock opened at $4.93 on Monday. The firm has a 50 day moving average price of $5.08 and a 200-day moving average price of $5.13. Acelyrin has a twelve month low of $3.36 and a twelve month high of $10.70. The company has a market capitalization of $492.06 million, a P/E ratio of -2.07 and a beta of 2.34.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same quarter last year, the company earned ($0.56) earnings per share. Equities analysts expect that Acelyrin will post -3.08 EPS for the current fiscal year.

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.