JPMorgan Chase & Co. Has $1.94 Million Stake in Acelyrin, Inc. (NASDAQ:SLRN)

JPMorgan Chase & Co. trimmed its stake in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 27.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 618,127 shares of the company's stock after selling 232,534 shares during the quarter. JPMorgan Chase & Co. owned 0.62% of Acelyrin worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SLRN. Virtu Financial LLC purchased a new stake in shares of Acelyrin during the 3rd quarter worth about $50,000. HighTower Advisors LLC bought a new position in Acelyrin during the third quarter valued at approximately $50,000. Intech Investment Management LLC lifted its stake in Acelyrin by 71.0% in the fourth quarter. Intech Investment Management LLC now owns 26,587 shares of the company's stock valued at $83,000 after acquiring an additional 11,040 shares during the last quarter. American Century Companies Inc. grew its position in Acelyrin by 146.0% in the fourth quarter. American Century Companies Inc. now owns 78,868 shares of the company's stock worth $248,000 after acquiring an additional 46,802 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Acelyrin by 208.8% during the 3rd quarter. Barclays PLC now owns 96,408 shares of the company's stock worth $475,000 after purchasing an additional 65,188 shares during the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SLRN. HC Wainwright reduced their target price on Acelyrin from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Citigroup decreased their price objective on shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, Acelyrin presently has an average rating of "Hold" and an average price target of $9.60.

Acelyrin Trading Up 0.8 %

SLRN traded up $0.02 during midday trading on Wednesday, reaching $2.47. The company's stock had a trading volume of 366,479 shares, compared to its average volume of 1,205,957. Acelyrin, Inc. has a twelve month low of $1.85 and a twelve month high of $7.25. The stock has a market cap of $249.24 million, a P/E ratio of -1.00 and a beta of 1.12. The company has a fifty day simple moving average of $2.47 and a 200 day simple moving average of $3.31.

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 analysts' consensus estimates of ($0.86) by $0.07. Sell-side analysts expect that Acelyrin, Inc. will post -2.53 earnings per share for the current year.

Insider Activity at Acelyrin

In other Acelyrin news, CEO Mina Kim sold 17,986 shares of the stock in a transaction 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 $1,840,603.22. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.60% of the stock is owned by corporate insiders.

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.