Acelyrin, Inc. (NASDAQ:SLRN) Short Interest Up 21.9% in November

Acelyrin, Inc. (NASDAQ:SLRN) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 5,730,000 shares, an increase of 21.9% from the October 31st total of 4,700,000 shares. Currently, 7.9% of the company’s stock are short sold. Based on an average daily trading volume, of 683,700 shares, the short-interest ratio is currently 8.4 days.

Acelyrin Stock Down 0.4 %

Shares of SLRN traded down $0.02 during mid-day trading on Friday, reaching $4.55. The company had a trading volume of 182,927 shares, compared to its average volume of 1,004,041. The stock has a market capitalization of $456.48 million, a P/E ratio of -1.85 and a beta of 1.98. Acelyrin has a 52-week low of $3.36 and a 52-week high of $8.89. The stock has a 50 day moving average of $5.36 and a two-hundred day moving average of $5.02.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLRN. Morgan Stanley reduced their price target on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company boosted their price objective on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. HC Wainwright increased their target price on Acelyrin from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Piper Sandler reduced 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.40.

Hedge Funds Weigh In On Acelyrin

Several large investors have recently made changes to their positions in SLRN. Millennium Management LLC grew its position in Acelyrin by 15.7% during the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after buying an additional 628,528 shares during the period. Geode Capital Management LLC grew its position in shares of Acelyrin by 30.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock valued at $8,144,000 after acquiring an additional 388,631 shares during the period. Almitas Capital LLC purchased a new position in shares of Acelyrin in the 2nd quarter valued at about $1,659,000. Acuta Capital Partners LLC acquired a new position in Acelyrin in the 3rd quarter worth about $1,795,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Acelyrin by 81.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock worth $3,006,000 after purchasing an additional 273,604 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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.