Insider Selling: Acelyrin, Inc. (NASDAQ:SLRN) Insider Sells 3,913 Shares of Stock

Acelyrin, Inc. (NASDAQ:SLRN) experienced an insider transaction on March 17th, when Amar Murugan sold 3,913 shares of the company’s stock. The sale price was set at an average of $2.74 per share, resulting in a total transaction value of $10,721.62. This recent sale led to a 3.12% reduction in Murugan's holdings in Acelyrin. After this transaction, Murugan now owns 121,587 shares, which are currently valued at approximately $333,148.38. Details of the transaction have been made available through an official filing with the SEC.

Current Stock Performance

On March 19th, shares of Acelyrin were down 1.1%, trading at $2.79 during midday sessions. The company recorded a trading volume of 850,761 shares, which is lower than its average volume of 1,234,757. Acelyrin has a market capitalization of approximately $279.91 million, with a price-to-earnings ratio of -1.13 and a beta of 1.25. Over the past year, the stock reached a low of $1.85 and a high of $8.59. The 50-day simple moving average stands at $2.25, while the 200-day simple moving average is at $3.85.

In its latest quarterly earnings report released on March 19th, Acelyrin reported an earnings per share (EPS) of ($0.79), which exceeded analysts' expectations of ($0.86) by $0.07. Analysts are anticipating that Acelyrin will report an EPS of -2.53 for the current year.

Analyst Ratings and Price Targets

Recently, Acelyrin's stock has been the subject of various analyst reports. Citigroup has lowered its price target for Acelyrin from $6.00 to $3.00 and assigned a “neutral” rating. Similarly, HC Wainwright has revised its price target down from $8.00 to $6.00, also maintaining a “neutral” stance. Wells Fargo reduced its target from $15.00 to $13.00, giving an “overweight” rating on the stock. Currently, three research analysts rate the stock as a hold and two suggest it as a buy. According to MarketBeat.com, Acelyrin holds a consensus “Hold” rating and an average target price of $9.60.

Institutional Investment Activity

In recent months, several large institutional investors have adjusted their stakes in Acelyrin. Intech Investment Management LLC purchased a new stake valued at around $77,000. Meanwhile, Charles Schwab Investment Management Inc. increased its holdings by 81.4%, now owning 609,678 shares worth $3,006,000 after acquiring an additional 273,604 shares during the quarter. Other notable transactions include Acuta Capital Partners LLC's new stake of $1,795,000 and Martingale Asset Management L P’s new investment worth about $485,000. Institutional ownership remains significant, with hedge funds and other institutional investors controlling approximately 87.31% of Acelyrin's stock.

Company Overview

Acelyrin, Inc. is a clinical biopharmaceutical firm that focuses on the identification, acquisition, and rapid development of groundbreaking medical therapies. The company’s flagship product candidate, izokibep, is designed as a small protein therapeutic that inhibits IL-17A with high potency. It is currently in Phase 3 clinical trials aimed at treating conditions such as Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, and is also under evaluation in Phase 2 trials for Axial Spondyloarthritis.

Acelyrin, Insider, Stocks