Almitas Capital LLC Boosts Stock Position in Acelyrin, Inc. (NASDAQ:SLRN)

Almitas Capital LLC grew its stake in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 506.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,704 shares of the company's stock after acquiring an additional 124,185 shares during the quarter. Almitas Capital LLC owned about 0.15% of Acelyrin worth $467,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, CEO Mina Kim sold 17,986 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $2.74, for a total transaction of $49,281.64. Following the sale, the chief executive officer now directly owns 671,753 shares of the company's stock, valued at $1,840,603.22. This represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.60% of the company's stock.

Acelyrin Stock Up 1.4 %

Shares of Acelyrin stock traded up $0.04 during mid-day trading on Wednesday, reaching $2.46. 243,115 shares of the stock traded hands, compared to its average volume of 1,203,264. The stock has a market capitalization of $247.73 million, a PE ratio of -1.00 and a beta of 1.07. The business has a 50-day moving average of $2.47 and a 200 day moving average of $3.19. Acelyrin, Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $7.25.

Acelyrin (NASDAQ:SLRN - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.07. On average, equities research analysts expect that Acelyrin, Inc. will post -2.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on SLRN. HC Wainwright lowered their price target on shares of Acelyrin from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Citigroup reduced their price target on Acelyrin from $6.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $9.60.

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.