Acelyrin (NASDAQ:SLRN) Shares Down 5.1%

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

Analysts Set New Price Targets

Several analysts recently commented on SLRN shares. Wells Fargo & Company increased their price objective on shares of Acelyrin from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Acelyrin in a research report on Monday, April 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Acelyrin Stock Performance

The company’s 50-day moving average is $7.43 and its 200 day moving average is $7.91.

Insider Activity

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

Hedge Funds Weigh In On Acelyrin

Several institutional investors have recently made changes to their positions in SLRN. venBio Partners LLC bought a new position in shares of Acelyrin in the 2nd quarter worth approximately $80,616,000. Vanguard Group Inc. raised its stake in Acelyrin by 93.0% during the 4th quarter. Vanguard Group Inc. now owns 6,155,910 shares of the company’s stock worth $45,923,000 after acquiring an additional 2,966,883 shares during the period. Blue Owl Capital Holdings LP bought a new stake in Acelyrin during the 4th quarter worth approximately $17,106,000. FMR LLC raised its stake in Acelyrin by 20.2% during the 3rd quarter. FMR LLC now owns 8,961,726 shares of the company’s stock worth $89,914,000 after acquiring an additional 1,505,488 shares during the period. Finally, Decheng Capital LLC bought a new stake in Acelyrin during the 4th quarter worth approximately $10,227,000. Institutional investors own 87.31% of the company’s stock.

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.