Acelyrin (NASDAQ:SLRN) Sets New 1-Year Low at $5.10

Acelyrin, Inc. (NASDAQ:SLRN) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.10 and last traded at $5.15, with a volume of 31884 shares traded. The stock had previously closed at $5.14.

Analysts Set New Price Targets

SLRN has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Acelyrin in a report on Monday, April 1st. Wells Fargo & Company boosted their price target on Acelyrin from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.67.

Acelyrin Trading Down 2.8 %

The business has a 50-day simple moving average of $7.26 and a two-hundred day simple moving average of $7.83.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.25. Equities analysts forecast that Acelyrin, Inc. will post -4.18 EPS for the current year.

Insider Activity

In other news, CEO Shao-Lee Lin sold 15,701 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total value of $119,327.60. Following the transaction, the chief executive officer now owns 1,587,335 shares of the company’s stock, valued at $12,063,746. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Acelyrin

Several institutional investors and hedge funds have recently made changes to their positions in SLRN. Bank of New York Mellon Corp acquired a new position in shares of Acelyrin in the second quarter valued at approximately $276,000. Charles Schwab Investment Management Inc. acquired a new stake in Acelyrin during the second quarter worth approximately $3,328,000. Osaic Holdings Inc. acquired a new stake in Acelyrin during the second quarter worth approximately $25,000. Northern Trust Corp acquired a new stake in Acelyrin during the second quarter worth approximately $1,215,000. Finally, Geode Capital Management LLC acquired a new stake in Acelyrin during the second quarter worth approximately $7,268,000. Institutional investors and hedge funds own 87.31% of the company’s stock.

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.