Acelyrin (NASDAQ:SLRN) Sets New 1-Year Low at $5.10

Shares of Acelyrin, Inc. (NASDAQ:SLRN) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.10 and last traded at $5.15, with a volume of 31884 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Acelyrin in a report on Monday, April 1st. Wells Fargo & Company lifted their price objective on Acelyrin from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.67.

Acelyrin Price Performance

The stock has a fifty day moving average price of $7.26 and a two-hundred day moving average price of $7.83.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.25. On average, sell-side analysts predict that Acelyrin, Inc. will post -4.18 earnings per share for the current fiscal year.

Insider Activity at Acelyrin

In related news, CEO Shao-Lee Lin sold 15,701 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total transaction of $119,327.60. Following the completion of the transaction, the chief executive officer now owns 1,587,335 shares in the company, valued at approximately $12,063,746. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLRN. Osaic Holdings Inc. acquired a new position in Acelyrin during the 2nd quarter worth $25,000. Amalgamated Bank acquired a new position in Acelyrin during the 3rd quarter worth $44,000. ADAR1 Capital Management LLC acquired a new position in Acelyrin during the 4th quarter worth $52,000. Tower Research Capital LLC TRC acquired a new position in Acelyrin during the 2nd quarter worth $64,000. Finally, Strs Ohio acquired a new position in Acelyrin during the 3rd quarter worth $71,000. Institutional investors and hedge funds own 87.31% of the company’s stock.

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.