Bank of Montreal Can Lowers Stock Position in Acelyrin, Inc. (NASDAQ:SLRN)

Bank of Montreal Can reduced its holdings in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 90.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,532 shares of the company's stock after selling 134,103 shares during the period. Bank of Montreal Can's holdings in Acelyrin were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SLRN. Virtu Financial LLC purchased a new stake in shares of Acelyrin in the third quarter valued at $50,000. RPO LLC purchased a new stake in Acelyrin in the fourth quarter worth $46,000. Intech Investment Management LLC grew its holdings in shares of Acelyrin by 71.0% in the fourth quarter. Intech Investment Management LLC now owns 26,587 shares of the company's stock worth $83,000 after purchasing an additional 11,040 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Acelyrin by 21.9% during the fourth quarter. Wells Fargo & Company MN now owns 52,014 shares of the company's stock worth $163,000 after acquiring an additional 9,332 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Acelyrin by 146.0% during the fourth quarter. American Century Companies Inc. now owns 78,868 shares of the company's stock valued at $248,000 after acquiring an additional 46,802 shares in the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLRN. Citigroup dropped their target price on shares of Acelyrin from $6.00 to $3.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. HC Wainwright cut their price objective 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $9.60.

Insider Activity at Acelyrin

In other Acelyrin news, CEO Mina Kim sold 17,986 shares of Acelyrin stock in a transaction dated 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 owns 671,753 shares in the company, valued at approximately $1,840,603.22. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 13.60% of the stock is owned by insiders.

Acelyrin Trading Up 5.5 %

Shares of NASDAQ SLRN traded up $0.14 during midday trading on Thursday, reaching $2.61. The company had a trading volume of 825,878 shares, compared to its average volume of 1,204,554. Acelyrin, Inc. has a 1 year low of $1.85 and a 1 year high of $7.25. The business's 50-day simple moving average is $2.47 and its 200 day simple moving average is $3.31. The stock has a market cap of $262.86 million, a P/E ratio of -1.06 and a beta of 1.12.

Acelyrin (NASDAQ:SLRN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.79) EPS for the quarter, topping analysts' consensus estimates of ($0.86) by $0.07. Analysts predict that Acelyrin, Inc. will post -2.53 earnings per share for the current year.

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.