Acelyrin, Inc. (NASDAQ:SLRN) Sees Large Increase in Short Interest

Acelyrin, Inc. (NASDAQ:SLRN) was the target of a significant increase in short interest in 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. Based on an average daily volume of 683,700 shares, the short-interest ratio is presently 8.4 days. Currently, 7.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLRN shares. Piper Sandler dropped their target price on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Morgan Stanley lowered their price objective on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company increased their target price on Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, HC Wainwright lifted their price target on Acelyrin from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new stake in shares of Acelyrin in the second quarter valued at approximately $49,000. Virtu Financial LLC purchased a new position in shares of Acelyrin during the 3rd quarter worth $50,000. HighTower Advisors LLC purchased a new position in shares of Acelyrin during the 3rd quarter worth $50,000. SG Americas Securities LLC acquired a new position in Acelyrin in the 2nd quarter valued at about $51,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Acelyrin by 58,570.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock valued at $62,000 after buying an additional 14,057 shares during the period. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Acelyrin Price Performance

NASDAQ SLRN traded down $0.02 during trading hours on Friday, hitting $4.55. 182,927 shares of the company’s stock traded hands, compared to its average volume of 1,004,041. The company has a market capitalization of $456.48 million, a PE 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 firm’s 50-day moving average is $5.36 and its 200-day moving average is $5.02.

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.