Insider Selling: Acelyrin, Inc. (NASDAQ:SLRN) Insider Sells 3,913 Shares of Stock

Acelyrin, Inc. (NASDAQ:SLRN) insider Amar Murugan sold 3,913 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $2.74, for a total transaction of $10,721.62. Following the completion of the transaction, the insider now directly owns 121,587 shares of the company’s stock, valued at $333,148.38. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Acelyrin Trading Down 1.1 %

Shares of NASDAQ SLRN traded down $0.03 during midday trading on Wednesday, reaching $2.79. The company had a trading volume of 850,761 shares, compared to its average volume of 1,234,757. The stock has a market cap of $279.91 million, a P/E ratio of -1.13 and a beta of 1.25. Acelyrin, Inc. has a 1 year low of $1.85 and a 1 year high of $8.59. The business’s 50-day simple moving average is $2.25 and its 200 day simple moving average is $3.85.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.07. Analysts predict that Acelyrin, Inc. will post -2.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

SLRN has been the subject of several recent research reports. Citigroup reduced their price target on Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. HC Wainwright decreased 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, January 7th. Finally, Wells Fargo & Company cut their price objective on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Acelyrin has a consensus rating of “Hold” and an average target price of $9.60.

Institutional Investors Weigh In On Acelyrin

Large investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in Acelyrin during the 3rd quarter valued at approximately $77,000. Charles Schwab Investment Management Inc. lifted 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 valued at $3,006,000 after purchasing an additional 273,604 shares during the period. Acuta Capital Partners LLC purchased a new stake in Acelyrin in the third quarter valued at $1,795,000. Martingale Asset Management L P acquired a new stake in Acelyrin during the 3rd quarter worth about $485,000. Finally, Verition Fund Management LLC raised its stake in shares of Acelyrin by 55.1% during the 3rd quarter. Verition Fund Management LLC now owns 110,115 shares of the company’s stock valued at $543,000 after buying an additional 39,100 shares during the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

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.