Insider Selling at Acelyrin, Inc. (NASDAQ:SLRN)

Amar Murugan, an insider at Acelyrin, Inc. (NASDAQ:SLRN), sold 3,913 shares of the company’s stock on Monday, March 17th. The shares were sold at an average price of $2.74, resulting in a total transaction value of $10,721.62. After this sale, Amar Murugan now directly owns 121,587 shares of Acelyrin, which have a current value of around $333,148.38. This sale marked a decrease of 3.12% in Murugan's overall position in the company. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC).

Acelyrin Stock Performance

On Wednesday, Acelyrin’s stock (NASDAQ: SLRN) saw a slight decline of 1.1%, dropping by $0.03 to reach a trading price of $2.79. The trading volume for the day was 850,761 shares, which is lower than the average volume of 1,234,757 shares. Acelyrin currently has a market capitalization of $279.91 million, with a price-to-earnings (P/E) ratio of -1.13 and a beta of 1.25. Over the past year, the stock has experienced a low of $1.85 and a high of $8.59. Acelyrin's 50-day and 200-day simple moving averages stand at $2.25 and $3.85, respectively.

Acelyrin recently released its quarterly earnings on March 19th. The company reported an earnings per share (EPS) of ($0.79), which was better than the analysts' consensus estimate of ($0.86) by $0.07. Analysts forecast that the company will achieve an EPS of -2.53 for the current year.

Research Analysts' Perspectives

Several recent research reports have been published regarding Acelyrin. Citigroup reduced their price target for the company from $6.00 to $3.00 and issued a 'neutral' rating in a report dated January 7th. Similarly, HC Wainwright adjusted their target from $8.00 to $6.00 and maintained a 'neutral' rating. In another report, Wells Fargo decreased their price objective from $15.00 to $13.00 and rated the stock as 'overweight'. According to MarketBeat, three analysts currently rate the stock as a hold, while two others have given it a buy rating. The consensus rating for Acelyrin is classified as 'Hold' with an average target price of $9.60.

Institutional Investors' Activities

In recent months, significant institutional buying and selling activities have been reported concerning Acelyrin. Intech Investment Management LLC acquired a new stake valued at around $77,000 in the third quarter. Charles Schwab Investment Management Inc. increased their holding in Acelyrin by 81.4% during the same quarter, owning now 609,678 shares worth $3,006,000, after buying an additional 273,604 shares. Other institutional investors such as Acuta Capital Partners LLC and Martingale Asset Management L P also made new investments in Acelyrin, contributing to the overall ownership of institutional investors, which stands at 87.31% of the company's shares.

About Acelyrin, Inc.

Acelyrin, Inc. is a clinical biopharmaceutical company focused on the identification, acquisition, and acceleration of the development and commercialization of transformative medicines. Its primary product candidate is izokibep, a small protein therapeutic geared towards inhibiting IL-17A with high potency. This candidate is currently involved in Phase 3 clinical trials for conditions like Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, while also undergoing Phase 2 trials for Axial Spondyloarthritis treatment.

Acelyrin, Stock, Insider, Earnings, Investors