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 stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $2.74, for a total transaction of $10,721.62. Following the completion of the transaction, the insider now directly owns 121,587 shares of the company’s stock, valued at approximately $333,148.38. The trade was a 3.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Acelyrin Price Performance

Acelyrin stock opened at $2.77 on Friday. Acelyrin, Inc. has a 1-year low of $1.85 and a 1-year high of $8.39. The firm has a market capitalization of $277.90 million, a P/E ratio of -1.13 and a beta of 1.25. The company’s 50-day moving average is $2.27 and its 200 day moving average is $3.83.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.07. Research analysts anticipate that Acelyrin, Inc. will post -2.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLRN has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target 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. Citigroup lowered their price target 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. Finally, HC Wainwright lowered their price target 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Acelyrin has an average rating of “Hold” and a consensus price target of $9.60.

Hedge Funds Weigh In On Acelyrin

A number of institutional investors have recently modified their holdings of SLRN. T. Rowe Price Investment Management Inc. increased its position in shares of Acelyrin by 23.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,872,124 shares of the company’s stock worth $40,419,000 after acquiring an additional 2,440,278 shares during the period. Alyeska Investment Group L.P. purchased a new position in Acelyrin during the fourth quarter valued at approximately $4,760,000. ADAR1 Capital Management LLC increased its holdings in Acelyrin by 731.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 444,967 shares of the company’s stock valued at $1,397,000 after buying an additional 391,467 shares during the period. Geode Capital Management LLC increased its holdings in Acelyrin by 30.8% during the third quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock valued at $8,144,000 after buying an additional 388,631 shares during the period. Finally, Stempoint Capital LP increased its holdings in Acelyrin by 29.4% during the fourth quarter. Stempoint Capital LP now owns 1,704,825 shares of the company’s stock valued at $5,353,000 after buying an additional 386,971 shares during the period. 87.31% of the stock is owned by hedge funds and other institutional investors.

About Acelyrin

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.