Acelyrin, Inc. (NASDAQ:SLRN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Acelyrin, Inc. (NASDAQ:SLRN) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $23.67.

A number of research firms recently commented on SLRN. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Acelyrin in a research report on Monday, April 1st. Wells Fargo & Company raised their price target on shares of Acelyrin from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st.

Acelyrin Stock Down 2.8 %

Acelyrin stock opened at $4.88 on Friday. The firm has a market capitalization of $480.00 million and a PE ratio of -0.46. Acelyrin has a 52 week low of $4.76 and a 52 week high of $29.88. The firm’s 50-day simple moving average is $7.26 and its 200 day simple moving average is $7.83.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.25. On average, research analysts expect that Acelyrin will post -4.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Acelyrin news, CEO Shao-Lee Lin sold 15,701 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total value of $119,327.60. Following the sale, the chief executive officer now directly owns 1,587,335 shares of the company’s stock, valued at approximately $12,063,746. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of Acelyrin

Several institutional investors have recently made changes to their positions in SLRN. Osaic Holdings Inc. purchased a new position in shares of Acelyrin in the 2nd quarter worth $25,000. Amalgamated Bank acquired a new stake in Acelyrin during the third quarter worth about $44,000. ADAR1 Capital Management LLC purchased a new position in shares of Acelyrin in the 4th quarter worth about $52,000. Tower Research Capital LLC TRC acquired a new position in shares of Acelyrin in the 2nd quarter valued at about $64,000. Finally, Strs Ohio purchased a new stake in shares of Acelyrin during the 3rd quarter worth about $71,000. 87.31% of the stock is owned by hedge funds and other institutional investors.

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.