Acelyrin (NASDAQ:SLRN) Hits New 12-Month Low at $5.10

Acelyrin, Inc. (NASDAQ:SLRN)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.10 and last traded at $5.15, with a volume of 31884 shares trading hands. The stock had previously closed at $5.14.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SLRN. HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Acelyrin in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on shares of Acelyrin from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.67.

Acelyrin Price Performance

The business’s 50-day moving average is $7.38 and its two-hundred day moving average is $7.87.

Insider Activity at Acelyrin

In related news, CEO Shao-Lee Lin sold 15,701 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 in the company, valued at approximately $12,063,746. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Acelyrin

Several hedge funds have recently bought and sold shares of SLRN. Osaic Holdings Inc. acquired a new stake in Acelyrin during the 2nd quarter worth approximately $25,000. Amalgamated Bank bought a new position in shares of Acelyrin during the 3rd quarter worth approximately $44,000. ADAR1 Capital Management LLC bought a new position in shares of Acelyrin during the 4th quarter worth approximately $52,000. Tower Research Capital LLC TRC bought a new position in shares of Acelyrin during the 2nd quarter worth approximately $64,000. Finally, Strs Ohio bought a new position in shares of Acelyrin during the 3rd quarter worth approximately $71,000. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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.