Amar Murugan Sells 3,913 Shares of Acelyrin, Inc. (NASDAQ:SLRN) Stock

Acelyrin, Inc. (NASDAQ:SLRN) insider Amar Murugan sold 3,913 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $2.74, for a total transaction of $10,721.62. Following the sale, the insider now owns 121,587 shares of the company’s stock, valued at approximately $333,148.38. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Acelyrin Stock Performance

Shares of Acelyrin stock opened at $2.77 on Friday. The company has a market capitalization of $277.90 million, a P/E ratio of -1.13 and a beta of 1.25. The company has a fifty day moving average of $2.27 and a 200 day moving average of $3.83. Acelyrin, Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $8.39.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in Acelyrin by 28.5% in the 4th quarter. ProShare Advisors LLC now owns 25,307 shares of the company’s stock worth $79,000 after buying an additional 5,617 shares during the period. Wells Fargo & Company MN boosted its holdings 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 purchasing an additional 9,332 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Acelyrin during the 3rd quarter valued at about $50,000. HighTower Advisors LLC bought a new position in shares of Acelyrin during the 3rd quarter valued at about $50,000. Finally, XTX Topco Ltd bought a new position in shares of Acelyrin during the 4th quarter valued at about $33,000. Institutional investors own 87.31% of the company’s stock.

Wall Street Analyst Weigh In

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

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.