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

On March 17th, Amar Murugan, an insider at Acelyrin, Inc. (NASDAQ:SLRN), sold 3,913 shares of the company's stock. The shares were sold at an average price of $2.74 each, leading to a total transaction value of $10,721.62. After this sale, Amar Murugan now directly holds 121,587 shares in Acelyrin, which are valued at approximately $333,148.38. This recent activity indicates a 3.12% decrease in Murugan's overall position in the company. The details of the transaction have been officially documented in a filing with the Securities and Exchange Commission (SEC), which is accessible online.

Acelyrin Trading Activity

Following the insider sale, shares of Acelyrin (NASDAQ:SLRN) saw a slight decrease of 1.1%, dropping by $0.03 during midday trading and reaching a price of $2.79. On that particular day, the company experienced a trading volume of 850,761 shares, comparatively lower than its average trading volume of 1,234,757. Acelyrin currently boasts a market capitalization of approximately $279.91 million, with a price-to-earnings (P/E) ratio of -1.13 and a beta of 1.25. Over the past year, the stock has fluctuated with a low of $1.85 and a high of $8.59. The company's 50-day simple moving average stands at $2.25, while its 200-day moving average is at $3.85.

Quarterly Earnings Report

Acelyrin, Inc. last published its quarterly earnings report on March 19th. The company reported an earnings per share (EPS) of ($0.79), which surpassed analyst expectations of ($0.86) by $0.07. Looking ahead, analysts are forecasting that Acelyrin will report an EPS of -$2.53 for the current fiscal year.

Analyst Ratings and Price Targets

Acelyrin's stock has recently been the subject of various research updates from analysts. Citigroup cut its price target for Acelyrin from $6.00 to $3.00, assigning a "neutral" rating to the stock. Similarly, HC Wainwright downgraded their price target from $8.00 to $6.00, also giving it a "neutral" rating. In contrast, Wells Fargo & Company raised its price objective from $15.00 to $13.00 and assigned an "overweight" rating to the shares. The consensus from three research analysts gives Acelyrin a "Hold" rating, while two analysts recommend buying the stock. The average target price is noted at $9.60 according to data compiled by MarketBeat.com.

Institutional Interest in Acelyrin

Recent trading activity shows that institutional investors have been actively buying and selling Acelyrin shares. Intech Investment Management LLC invested in Acelyrin during the third quarter, acquiring a stake valued at around $77,000. Charles Schwab Investment Management Inc. increased its position by 81.4% in the same period, resulting in ownership of 609,678 shares worth approximately $3,006,000 after acquiring an additional 273,604 shares. Other investors, such as Acuta Capital Partners LLC and Martingale Asset Management L P, also purchased stakes in Acelyrin during the third quarter, bringing the percentage of shares owned by institutional investors to 87.31%.

Company Overview

Acelyrin, Inc. is a clinical biopharma company dedicated to identifying, acquiring, and fast-tracking the development and commercialization of innovative medicines. Its leading product candidate is izokibep, a small protein therapeutic aimed at inhibiting IL-17A with significant potency. This candidate is currently undergoing Phase 3 clinical trials for treating Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as Phase 2 trials for Axial Spondyloarthritis.

Insider, Selling, Acelyrin