T. Rowe Price Investment Management Inc. Purchases 2,440,278 Shares of Acelyrin, Inc. (NASDAQ:SLRN)

T. Rowe Price Investment Management Inc. grew its position in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,872,124 shares of the company's stock after buying an additional 2,440,278 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 12.83% of Acelyrin worth $40,419,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SLRN. State Street Corp grew its position in Acelyrin by 10.0% in the 3rd quarter. State Street Corp now owns 1,273,096 shares of the company's stock worth $6,276,000 after purchasing an additional 116,094 shares during the last quarter. Barclays PLC boosted its stake in Acelyrin by 208.8% during the 3rd quarter. Barclays PLC now owns 96,408 shares of the company's stock worth $475,000 after acquiring an additional 65,188 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Acelyrin by 30.8% during the third quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company's stock worth $8,144,000 after purchasing an additional 388,631 shares during the period. Virtu Financial LLC bought a new position in Acelyrin during the 3rd quarter worth about $50,000. Finally, Franklin Resources Inc. increased its stake in Acelyrin by 36.9% in the 3rd quarter. Franklin Resources Inc. now owns 128,591 shares of the company's stock valued at $634,000 after buying an additional 34,642 shares during the last quarter. 87.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Acelyrin

In other Acelyrin news, CEO Mina Kim sold 17,986 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $2.74, for a total value of $49,281.64. Following the completion of the transaction, the chief executive officer now 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 is available at this hyperlink. Corporate insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLRN. HC Wainwright reduced their price objective on Acelyrin from $8.00 to $6.00 and set a "neutral" rating for the company 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 on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.60.

Acelyrin Stock Performance

NASDAQ:SLRN traded up $0.03 during trading hours on Friday, reaching $2.61. The stock had a trading volume of 313,846 shares, compared to its average volume of 1,208,263. The stock has a market capitalization of $262.86 million, a PE ratio of -1.06 and a beta of 1.12. The company has a 50 day moving average price of $2.47 and a two-hundred day moving average price of $3.29. Acelyrin, Inc. has a 52 week low of $1.85 and a 52 week high of $7.25.

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

Acelyrin Company 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.