Citigroup Has Lowered Expectations for Acelyrin (NASDAQ:SLRN) Stock Price

Acelyrin (NASDAQ:SLRN) had its price target lowered by equities research analysts at Citigroup from $6.00 to $3.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 35.75% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. HC Wainwright cut their price target on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Acelyrin currently has a consensus rating of “Hold” and an average target price of $9.60.

Acelyrin Stock Down 36.7 %

NASDAQ:SLRN traded down $1.28 during midday trading on Tuesday, hitting $2.21. The company had a trading volume of 10,396,359 shares, compared to its average volume of 3,573,088. The stock’s fifty day moving average price is $4.39 and its 200-day moving average price is $4.89. Acelyrin has a 52-week low of $1.91 and a 52-week high of $8.89. The company has a market capitalization of $221.72 million, a PE ratio of -0.90 and a beta of 1.94.

Institutional Trading of Acelyrin

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Acelyrin by 30.8% during the third 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 in the last quarter. Acadian Asset Management LLC purchased a new stake in Acelyrin in the second quarter worth approximately $590,000. Point72 Asset Management L.P. raised its stake in Acelyrin by 566.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 250,300 shares of the company’s stock valued at $1,234,000 after buying an additional 212,758 shares during the last quarter. Almitas Capital LLC purchased a new stake in Acelyrin during the second quarter valued at $1,659,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Acelyrin by 81.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock valued at $3,006,000 after purchasing an additional 273,604 shares during the last quarter. 87.31% of the stock is owned by hedge funds and other institutional investors.

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.