Acelyrin (NASDAQ:SLRN) Shares Down 5.1%

Shares of Acelyrin, Inc. (NASDAQ:SLRN) traded down 5.1% during mid-day trading on Tuesday . The stock traded as low as $5.22 and last traded at $5.24. 222,851 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,204,359 shares. The stock had previously closed at $5.52.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLRN. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Acelyrin in a research note on Monday, April 1st. Wells Fargo & Company boosted their price objective on Acelyrin from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Acelyrin Stock Performance

The company has a 50-day simple moving average of $7.32 and a 200-day simple moving average of $7.85.

Insider Buying and Selling at Acelyrin

In other Acelyrin news, CEO Shao-Lee Lin sold 15,701 shares of the business’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 transaction of $119,327.60. Following the completion of the transaction, the chief executive officer now owns 1,587,335 shares in the company, valued at $12,063,746. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLRN. Osaic Holdings Inc. purchased a new stake in shares of Acelyrin in the second quarter valued at approximately $25,000. Tower Research Capital LLC TRC purchased a new stake in shares of Acelyrin in the second quarter valued at approximately $64,000. Amalgamated Bank purchased a new stake in shares of Acelyrin in the third quarter valued at approximately $44,000. Strs Ohio purchased a new stake in shares of Acelyrin in the third quarter valued at approximately $71,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Acelyrin in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors 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.