Insider Selling: Acelyrin, Inc. (NASDAQ:SLRN) Insider Sells 3,913 Shares of Stock

Acelyrin, Inc. (NASDAQ:SLRN) experienced a notable insider sale when Amar Murugan, an insider of the company, sold 3,913 shares of the stock. This transaction took place on Monday, March 17th, at an average price of $2.74 per share. The total amount raised from this sale was $10,721.62. After the sale, Amar Murugan now holds 121,587 shares of Acelyrin, which are valued at approximately $333,148.38. This sale represents a decrease of 3.12% in his ownership stake in the company. The details of this transaction have been filed with the Securities and Exchange Commission (SEC) and can be found in the relevant legal documents.

Acelyrin Trading Activity

On Wednesday, during midday trading, shares of Acelyrin (SLRN) dropped by 1.1%, decreasing by $0.03 to reach a value of $2.79 per share. The trading volume was reported at 850,761 shares, which is less than the average volume of 1,234,757 shares. Acelyrin holds a market capitalization of $279.91 million, a price-to-earnings (P/E) ratio of -1.13, and a beta of 1.25. Over the past year, the stock has reached a low of $1.85 and a high of $8.59. The company's 50-day and 200-day simple moving averages stand at $2.25 and $3.85, respectively.

Earnings Report Overview

Acelyrin recently published its quarterly earnings on March 19th, reporting an earnings per share (EPS) of -$0.79. This result exceeded analyst expectations, which had estimated an EPS of -$0.86, marking a $0.07 positive variance. Analysts maintain a prediction that Acelyrin will report an earnings per share of -$2.53 for the full year.

Analyst Insights

In recent months, Acelyrin has been subject to various research evaluations. Citigroup lowered its price target for the stock from $6.00 to $3.00 while assigning a "neutral" rating in a report released on January 7th. Subsequently, HC Wainwright also adjusted their price target from $8.00 to $6.00 and maintained a "neutral" rating. In addition, Wells Fargo reduced its price objective from $15.00 to $13.00, indicating an "overweight" rating for Acelyrin's stock. Currently, analysts have rated the stock with three hold ratings and two buy ratings, with a consensus rating of "Hold" and an average target price of $9.60, according to data from MarketBeat.com.

Institutional Investor Activity

Recent activity from institutional investors has impacted shares of Acelyrin. Intech Investment Management LLC acquired a new investment in Acelyrin during the third quarter, valued at about $77,000. Meanwhile, Charles Schwab Investment Management Inc. boosted its stake in the company by 81.4%, now owning 609,678 shares worth around $3,006,000 after buying an additional 273,604 shares. Other organizations such as Acuta Capital Partners LLC and Martingale Asset Management L P also made significant acquisitions during the same period. Overall, institutional investors hold 87.31% of Acelyrin’s stock.

Company Overview

Acelyrin, Inc. is a clinical biopharma company committed to discovering, acquiring, and accelerating the development and commercialization of innovative therapeutics. Their leading product candidate is izokibep, designed to inhibit IL-17A with impressive potency; it is currently undergoing Phase 3 clinical trials for conditions such as Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as Phase 2 trials for Axial Spondyloarthritis.

Additional Insights

Investors considering Acelyrin should keep in mind the performance ratings and future prospects given by analysts. While the stock currently holds a "Hold" rating, potential investors may wish to explore alternatives that are gaining favorable analyst recommendations.

Insider, Selling, Stock