Verition Fund Management LLC Raises Stock Position in Acelyrin, Inc. (NASDAQ:SLRN)

Verition Fund Management LLC grew its stake in Acelyrin, Inc. (NASDAQ:SLRN) by 55.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,115 shares of the company’s stock after purchasing an additional 39,100 shares during the period. Verition Fund Management LLC owned about 0.11% of Acelyrin worth $543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in Acelyrin during the second quarter worth $49,000. SG Americas Securities LLC acquired a new position in Acelyrin in the 2nd quarter valued at about $51,000. Nisa Investment Advisors LLC boosted its position in 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. Intech Investment Management LLC purchased a new stake in Acelyrin during the 3rd quarter worth about $77,000. Finally, US Bancorp DE increased its position in shares of Acelyrin by 77.1% in the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after purchasing an additional 7,336 shares during the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company cut 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. HC Wainwright restated a “neutral” rating and issued a $8.00 price target on shares of Acelyrin in a report on Wednesday. Piper Sandler cut their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, Morgan Stanley decreased their target price on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th.

Acelyrin Stock Down 16.0 %

SLRN opened at $3.41 on Thursday. The company has a 50 day moving average of $5.24 and a two-hundred day moving average of $5.01. Acelyrin, Inc. has a 52-week low of $3.18 and a 52-week high of $8.89. The company has a market cap of $342.13 million, a P/E ratio of -1.39 and a beta of 1.63.

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.