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 dated Monday, March 17th. The shares were sold at an average price of $2.74, for a total transaction of $10,721.62. Following the completion of the sale, the insider now directly owns 121,587 shares of the company’s stock, valued at approximately $333,148.38. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Acelyrin Trading Down 1.1 %

NASDAQ:SLRN opened at $2.79 on Thursday. The company has a market capitalization of $279.91 million, a P/E ratio of -1.13 and a beta of 1.25. Acelyrin, Inc. has a 12 month low of $1.85 and a 12 month high of $8.59. The firm has a fifty day simple moving average of $2.26 and a 200-day simple moving average of $3.84.

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. Equities analysts forecast that Acelyrin, Inc. will post -2.53 EPS for the current year.

Institutional Investors Weigh In On Acelyrin

A number of institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC lifted its stake in Acelyrin by 28.5% during the 4th quarter. ProShare Advisors LLC now owns 25,307 shares of the company’s stock valued at $79,000 after acquiring an additional 5,617 shares during the period. Wells Fargo & Company MN raised its stake in shares of Acelyrin by 21.9% during the 4th quarter. Wells Fargo & Company MN now owns 52,014 shares of the company’s stock valued at $163,000 after buying an additional 9,332 shares during the last quarter. Virtu Financial LLC acquired a new stake in Acelyrin during the third quarter worth about $50,000. HighTower Advisors LLC purchased a new position in Acelyrin during the third quarter valued at approximately $50,000. Finally, XTX Topco Ltd acquired a new position in Acelyrin in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLRN. HC Wainwright cut their target price on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their price target on Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, Citigroup lowered their price objective on Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.60.

About Acelyrin

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.