Insider Selling: Acelyrin, Inc. (NASDAQ:SLRN) CEO Sells 17,986 Shares of Stock

Acelyrin, Inc. (NASDAQ:SLRN) CEO Mina Kim sold 17,986 shares of Acelyrin stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $2.74, for a total transaction of $49,281.64. Following the transaction, the chief executive officer now directly owns 671,753 shares of the company’s stock, valued at approximately $1,840,603.22. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Acelyrin Stock Performance

Shares of NASDAQ SLRN opened at $2.75 on Friday. The firm has a market cap of $275.90 million, a PE ratio of -1.12 and a beta of 1.25. The firm has a fifty day moving average of $2.29 and a 200 day moving average of $3.82. Acelyrin, Inc. has a one year low of $1.85 and a one year high of $7.86.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.07. On average, equities analysts predict that Acelyrin, Inc. will post -2.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Acelyrin

A number of large investors have recently modified their holdings of SLRN. Intech Investment Management LLC purchased a new stake in shares of Acelyrin during the third quarter worth $77,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Acelyrin by 81.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock worth $3,006,000 after buying an additional 273,604 shares in the last quarter. Acuta Capital Partners LLC purchased a new stake in shares of Acelyrin during the third quarter worth $1,795,000. Martingale Asset Management L P purchased a new stake in shares of Acelyrin during the third quarter worth $485,000. Finally, Verition Fund Management LLC grew its holdings in shares of Acelyrin by 55.1% during the third quarter. Verition Fund Management LLC now owns 110,115 shares of the company’s stock worth $543,000 after buying an additional 39,100 shares in the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SLRN shares. Citigroup cut their target price on shares of Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. HC Wainwright cut their target price on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company cut their target price on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.