Acelyrin (NASDAQ:SLRN) Shares Down 5.1%

Acelyrin, Inc. (NASDAQ:SLRN) dropped 5.1% during trading on Tuesday . The company 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

SLRN has been the topic of a number of research reports. Wells Fargo & Company upped 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. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Acelyrin in a research report on Monday, April 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Acelyrin presently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

Acelyrin Stock Down 2.3 %

The stock has a fifty day moving average price of $7.32 and a two-hundred day moving average price of $7.85.

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 sale, the chief executive officer now directly owns 1,587,335 shares in the company, valued at $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

A number of hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. purchased a new stake in Acelyrin in the second quarter worth $25,000. Amalgamated Bank purchased a new position in shares of Acelyrin in the third quarter valued at $44,000. ADAR1 Capital Management LLC purchased a new position in shares of Acelyrin in the fourth quarter valued at $52,000. Tower Research Capital LLC TRC purchased a new position in shares of Acelyrin in the second quarter valued at $64,000. Finally, Strs Ohio purchased a new position in shares of Acelyrin in the third quarter valued at $71,000. 87.31% of the stock is currently owned by 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.