Alyeska Investment Group L.P. Buys Shares of 1,515,878 Acelyrin, Inc. (NASDAQ:SLRN)

Alyeska Investment Group L.P. purchased a new position in shares of Acelyrin, Inc. (NASDAQ:SLRN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,515,878 shares of the company’s stock, valued at approximately $4,760,000. Alyeska Investment Group L.P. owned approximately 1.51% of Acelyrin as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in Acelyrin by 23.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,872,124 shares of the company’s stock valued at $40,419,000 after acquiring an additional 2,440,278 shares during the period. Geode Capital Management LLC raised its holdings in Acelyrin by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,709,086 shares of the company’s stock worth $5,368,000 after buying an additional 57,472 shares during the period. Northern Trust Corp lifted its stake in Acelyrin by 3.8% in the fourth quarter. Northern Trust Corp now owns 630,051 shares of the company’s stock valued at $1,978,000 after buying an additional 23,130 shares in the last quarter. ADAR1 Capital Management LLC boosted its holdings in shares of Acelyrin by 731.7% in the fourth quarter. ADAR1 Capital Management LLC now owns 444,967 shares of the company’s stock valued at $1,397,000 after buying an additional 391,467 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Acelyrin during the fourth quarter worth $746,000. Institutional investors and hedge funds own 87.31% of the company’s stock.

Insider Transactions at Acelyrin

In other news, CEO Mina Kim sold 17,986 shares of Acelyrin stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $2.74, for a total transaction of $49,281.64. Following the completion of the transaction, the chief executive officer now directly owns 671,753 shares in the company, valued at approximately $1,840,603.22. The trade was a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HC Wainwright reduced their target price on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Citigroup reduced their price objective on Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Acelyrin presently has an average rating of “Hold” and a consensus target price of $9.60.

Acelyrin Stock Performance

SLRN opened at $2.54 on Tuesday. The business’s 50-day simple moving average is $2.47 and its 200 day simple moving average is $3.20. Acelyrin, Inc. has a 52-week low of $1.85 and a 52-week high of $7.25. The firm has a market capitalization of $256.30 million, a PE ratio of -1.03 and a beta of 1.07.

Acelyrin (NASDAQ:SLRN) last released its earnings results on Wednesday, March 19th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.07. On average, research analysts forecast that Acelyrin, Inc. will post -2.53 earnings per share for the current year.

Acelyrin 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.