Acelyrin (NASDAQ:SLRN) Shares Down 3%

Acelyrin, Inc. (NASDAQ:SLRNGet Free Report) shares were down 3% during mid-day trading on Monday . The company traded as low as $7.77 and last traded at $7.77. Approximately 95,550 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 992,258 shares. The stock had previously closed at $8.01.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLRN. Morgan Stanley decreased their target price on Acelyrin from $19.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 29th. 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. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Acelyrin in a research note on Tuesday, November 28th. Citigroup started coverage on Acelyrin in a research report on Friday, December 8th. They set a “neutral” rating and a $8.00 price target on the stock. Finally, Jefferies Financial Group reduced their target price on Acelyrin from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.67.

Check Out Our Latest Stock Analysis on Acelyrin

Acelyrin Stock Down 3.1 %

The stock has a 50 day moving average of $7.26 and a 200 day moving average of $12.50.

Insiders Place Their Bets

In other news, CEO Shao-Lee Lin sold 10,691 shares of the business’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 transaction, the chief executive officer now directly owns 1,603,036 shares in the company, valued at approximately $11,878,496.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. bought a new stake in Acelyrin during the second quarter worth about $25,000. Tower Research Capital LLC TRC bought a new stake in shares of Acelyrin during the second quarter worth $64,000. Charles Schwab Investment Management Inc. increased its position in shares of Acelyrin by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 247,756 shares of the company’s stock worth $1,848,000 after acquiring an additional 3,934 shares in the last quarter. Amalgamated Bank bought a new position in Acelyrin in the third quarter valued at $44,000. Finally, New York State Common Retirement Fund grew its position in shares of Acelyrin by 84.4% in the 4th quarter. New York State Common Retirement Fund now owns 13,181 shares of the company’s stock valued at $98,000 after acquiring an additional 6,032 shares during the period. Institutional investors and hedge funds own 94.68% of the company’s stock.

Acelyrin Company Profile

(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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