Mirae Asset Global Investments Co. Ltd. Cuts Stake in Acelyrin, Inc. (NASDAQ:SLRN)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 15.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,038 shares of the company’s stock after selling 3,158 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Acelyrin were worth $127,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SLRN. FMR LLC boosted its stake in shares of Acelyrin by 20.2% during the third quarter. FMR LLC now owns 8,961,726 shares of the company’s stock valued at $89,914,000 after purchasing an additional 1,505,488 shares during the period. Vanguard Group Inc. boosted its position in Acelyrin by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,189,027 shares of the company’s stock valued at $32,432,000 after buying an additional 116,847 shares during the period. Kynam Capital Management LP bought a new stake in Acelyrin in the 3rd quarter worth $12,204,000. Walleye Capital LLC purchased a new position in shares of Acelyrin in the third quarter valued at about $4,550,000. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Acelyrin by 267.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 202,662 shares of the company’s stock valued at $2,061,000 after acquiring an additional 147,454 shares during the last quarter. 87.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Acelyrin Price Performance

Shares of SLRN opened at $4.24 on Monday. Acelyrin, Inc. has a one year low of $4.18 and a one year high of $29.88. The company has a 50-day simple moving average of $6.87 and a two-hundred day simple moving average of $7.58. The firm has a market capitalization of $419.38 million and a PE ratio of -0.40.

Acelyrin (NASDAQ:SLRN) last released its earnings results on Thursday, March 28th. The company reported ($0.75) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.25. Analysts expect that Acelyrin, Inc. will post -4.18 EPS for the current fiscal year.

Insider Buying and Selling at Acelyrin

In other news, CEO Shao-Lee Lin sold 15,701 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $7.60, for a total value of $119,327.60. Following the sale, the chief executive officer now directly owns 1,587,335 shares of the company’s stock, valued at approximately $12,063,746. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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.