Acelyrin (NASDAQ:SLRN) Shares Down 5.1%

Shares of Acelyrin, Inc. (NASDAQ:SLRN) were down 5.1% on Tuesday . The stock traded as low as $5.22 and last traded at $5.24. Approximately 222,851 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,204,359 shares. The stock had previously closed at $5.52.

Wall Street Analysts Forecast Growth

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

Acelyrin Stock Down 5.4 %

The firm has a fifty day moving average price of $7.43 and a 200 day moving average price of $7.91.

Insider Buying and Selling

In related news, CEO Shao-Lee Lin sold 15,701 shares of Acelyrin stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,587,335 shares of the company’s stock, valued at $12,063,746. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Acelyrin

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. purchased a new position in Acelyrin during the second quarter worth $25,000. Tower Research Capital LLC TRC purchased a new position in Acelyrin during the second quarter worth $64,000. Charles Schwab Investment Management Inc. increased its position in Acelyrin by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 247,756 shares of the company’s stock worth $1,848,000 after buying an additional 3,934 shares in the last quarter. Amalgamated Bank purchased a new position in Acelyrin during the third quarter worth $44,000. Finally, Royal Bank of Canada grew its position in shares of Acelyrin by 115.5% in the fourth quarter. Royal Bank of Canada now owns 10,664 shares of the company’s stock valued at $80,000 after purchasing an additional 5,716 shares during the period. Hedge funds and other institutional investors own 87.31% of the company’s stock.

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.