Acelyrin (NASDAQ:SLRN) Trading Down 5.8%

Shares of Acelyrin, Inc. (NASDAQ:SLRNGet Free Report) traded down 5.8% during trading on Tuesday . The stock traded as low as $6.63 and last traded at $6.65. 69,117 shares changed hands during trading, a decline of 89% from the average session volume of 601,103 shares. The stock had previously closed at $7.06.

Analyst Ratings Changes

A number of equities analysts have weighed in on SLRN shares. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Acelyrin in a report on Tuesday, November 28th. Jefferies Financial Group lowered their price target on Acelyrin from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, November 28th. Wells Fargo & Company assumed coverage on Acelyrin in a report on Wednesday, December 13th. They issued an “equal weight” rating and a $11.00 price objective on the stock. Citigroup initiated coverage on Acelyrin in a research note on Friday, December 8th. They issued a “neutral” rating and a $8.00 price objective on the stock. Finally, Morgan Stanley dropped their target price on shares of Acelyrin from $19.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

View Our Latest Report on SLRN

Acelyrin Stock Down 4.9 %

The company has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $14.22.

Acelyrin (NASDAQ:SLRNGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.40). As a group, research analysts expect that Acelyrin, Inc. will post -7.4 EPS for the current fiscal year.

Insider Activity

In related news, CEO Shao-Lee Lin sold 10,691 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $7.41, for a total transaction of $79,220.31. Following the completion of the sale, the chief executive officer now directly owns 1,603,036 shares of the company’s stock, valued at approximately $11,878,496.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SLRN. Marshall Wace LLP acquired a new position in shares of Acelyrin in the 2nd quarter valued at approximately $24,276,000. Driehaus Capital Management LLC acquired a new stake in Acelyrin in the second quarter valued at $36,759,000. CHI Advisors LLC acquired a new stake in shares of Acelyrin in the 2nd quarter valued at about $55,674,000. TD Asset Management Inc acquired a new stake in shares of Acelyrin in the 2nd quarter valued at about $1,288,000. Finally, Sectoral Asset Management Inc. bought a new position in shares of Acelyrin during the second quarter worth about $4,201,000. Hedge funds and other institutional investors own 94.68% of the company’s stock.

About Acelyrin

(Get Free Report)

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.

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