Acelyrin (NASDAQ:SLRN) Lifted to “Overweight” at Wells Fargo & Company

Acelyrin (NASDAQ:SLRN) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Monday, Marketbeat reports. The brokerage presently has a $13.00 price target on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 154.90% from the stock’s current price.

Separately, HC Wainwright boosted their price objective on shares of Acelyrin from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Acelyrin currently has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Acelyrin Stock Up 9.0 %

Shares of NASDAQ SLRN opened at $5.10 on Monday. The stock’s 50 day moving average price is $4.31 and its two-hundred day moving average price is $6.10. Acelyrin has a 52-week low of $3.67 and a 52-week high of $29.88. The stock has a market capitalization of $505.05 million, a P/E ratio of -2.10 and a beta of 2.56.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.57. On average, analysts anticipate that Acelyrin will post -3.33 EPS for the current year.

Institutional Investors Weigh In On Acelyrin

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Acelyrin by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock worth $42,103,000 after acquiring an additional 81,633 shares during the period. Decheng Capital LLC bought a new stake in shares of Acelyrin during the fourth quarter valued at approximately $10,227,000. StemPoint Capital LP boosted its position in shares of Acelyrin by 21.7% during the first quarter. StemPoint Capital LP now owns 714,773 shares of the company’s stock worth $4,825,000 after buying an additional 127,400 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Acelyrin in the 1st quarter worth approximately $3,961,000. Finally, Kennedy Capital Management LLC increased its position in Acelyrin by 2.6% in the 1st quarter. Kennedy Capital Management LLC now owns 486,560 shares of the company’s stock valued at $3,284,000 after acquiring an additional 12,554 shares during the period. 87.31% of the stock is currently owned by institutional investors.

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.