Acelyrin (NASDAQ:SLRN) Sets New 52-Week Low at $5.61

Shares of Acelyrin, Inc. (NASDAQ:SLRN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.61 and last traded at $5.67, with a volume of 81890 shares trading hands. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Acelyrin in a research note on Monday, April 1st. Wells Fargo & Company lifted their price objective on Acelyrin from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.67.

Acelyrin Trading Up 1.1 %

The company has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $7.99. The stock has a market cap of $566.58 million and a P/E ratio of -0.54.

Insider Buying and Selling

In other Acelyrin news, CEO Shao-Lee Lin sold 15,701 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were 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 of the company’s stock, valued at approximately $12,063,746. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLRN. Walleye Capital LLC acquired a new position in Acelyrin during the third quarter worth $4,550,000. Rafferty Asset Management LLC bought a new stake in shares of Acelyrin in the 3rd quarter valued at about $1,766,000. Barclays PLC bought a new position in Acelyrin during the third quarter worth about $1,084,000. Schonfeld Strategic Advisors LLC increased its position in Acelyrin by 267.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 202,662 shares of the company’s stock worth $2,061,000 after buying an additional 147,454 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Acelyrin by 601.1% in the third quarter. Bank of New York Mellon Corp now owns 92,701 shares of the company’s stock valued at $943,000 after buying an additional 79,478 shares during the period. Institutional investors and hedge funds own 87.31% of the company’s stock.

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.