Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $5.10 and last traded at $5.15, with a volume of 31884 shares changing hands. The stock had previously closed at $5.14.
Analyst Ratings Changes
Several analysts have commented on the company. Wells Fargo & Company lifted their price target on Acelyrin from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Thursday, March 21st. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price target on shares of Acelyrin in a research report on Monday, April 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Acelyrin has an average rating of "Moderate Buy" and an average price target of $23.67.
Get Our Latest Report on Acelyrin
Acelyrin Price Performance
The business has a fifty day moving average of $7.32 and a 200 day moving average of $7.85. The stock has a market cap of $493.77 million and a PE ratio of -0.47.
Insiders Place Their Bets
In other news, CEO Shao-Lee Lin sold 15,701 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total transaction of $119,327.60. Following the sale, the chief executive officer now directly owns 1,587,335 shares in the company, valued at approximately $12,063,746. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Institutional Trading of Acelyrin
Several large investors have recently added to or reduced their stakes in SLRN. Bank of New York Mellon Corp bought a new position in Acelyrin during the 2nd quarter valued at $276,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Acelyrin during the 2nd quarter worth $3,328,000. Osaic Holdings Inc. bought a new stake in shares of Acelyrin during the 2nd quarter worth $25,000. Northern Trust Corp bought a new stake in shares of Acelyrin during the 2nd quarter worth $1,215,000. Finally, Geode Capital Management LLC bought a new stake in shares of Acelyrin during the 2nd quarter worth $7,268,000. 87.31% of the stock is currently owned by institutional investors and hedge funds.
About Acelyrin
(
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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.
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