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

On March 17th, Amar Murugan, an insider at Acelyrin, Inc. (NASDAQ:SLRN), sold 3,913 shares of the company's stock. The shares were sold at an average price of $2.74 each, leading to a total transaction value of $10,721.62. After the sale, Murugan retained ownership of 121,587 shares, which are currently valued at approximately $333,148.38. This sale represents a 3.12% reduction in his holdings. The transaction was reported in a filing submitted to the Securities and Exchange Commission (SEC), and the details can be accessed through their official website.

Recent Trading Activity

In midday trading on Wednesday, shares of Acelyrin, Inc. were down by $0.03, reaching a price of $2.79. The company experienced a trading volume of 850,761 shares, which is lower than the average volume of 1,234,757 shares. Acelyrin has a market capitalization of approximately $279.91 million and a price-to-earnings (P/E) ratio of -1.13. The stock has fluctuated between a 1-year low of $1.85 and a high of $8.59. Additionally, the company has a 50-day simple moving average price of $2.25 and a 200-day simple moving average of $3.85.

Acelyrin, Inc. reported its quarterly earnings on March 19th, showing an earnings per share (EPS) of ($0.79), which exceeded analysts’ expectations of ($0.86) by $0.07. Predictions indicate that Acelyrin will see earnings of -$2.53 per share for the current year.

Analyst Perspectives

In recent reports, several analysts have offered their assessments of Acelyrin. Citigroup adjusted their price target for the stock from $6.00 to $3.00, assigning a "neutral" rating. Similarly, HC Wainwright lowered their target from $8.00 to $6.00, also giving it a "neutral" rating. On the other hand, Wells Fargo reduced its price objective for Acelyrin from $15.00 to $13.00, maintaining an "overweight" rating. Currently, three analysts have given the stock a hold rating, while two analysts have rated it as a buy. According to MarketBeat.com, Acelyrin holds a consensus rating of "Hold" with an average target price of $9.60.

Investing Insights

Institutional Investor Activities

Recently, several large investors have engaged in buying and selling shares of Acelyrin. For instance, Intech Investment Management LLC acquired a new stake in the company during the third quarter, valued at about $77,000. Charles Schwab Investment Management Inc. increased its position in Acelyrin by 81.4% during the same period, now holding 609,678 shares worth approximately $3,006,000 after adding 273,604 shares. Other notable transactions include Acuta Capital Partners LLC purchasing a new stake valued at $1,795,000 and Martingale Asset Management L P acquiring another stake worth around $485,000. Hedge funds and other institutional investors currently own around 87.31% of Acelyrin's stock.

Company Overview

Acelyrin, Inc. is a clinical biopharmaceutical firm focusing on the identification, acquisition, and acceleration of transformative medicine development and commercialization. The leading product candidate is izokibep, a small protein therapeutic aimed at inhibiting IL-17A with high potency. Currently, it is undergoing Phase 3 clinical trials for treatment of conditions like Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, and is also in Phase 2 trials for Axial Spondyloarthritis.

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