In yesterday’s Wall Street session, Acelyrin Inc. (NASDAQ:SLRN) shares traded at $23.98, down -4.35% from the previous session.
As of this writing, 4 analysts cover Acelyrin Inc. (NASDAQ:SLRN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $68.00 and a low of $29.00, we find $31.00. Given the previous closing price of $25.07, this indicates a potential upside of 23.65 percent. SLRN stock price is now 16.24% away from the 50-day moving average and 13.79% away from the 200-day moving average. The market capitalization of the company currently stands at $2.24B.
There are 0 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $42.67 as their price target over the next twelve months.
In other news, Westlake BioPartners Fund II, , 10% Owner bought 1,250,000 shares of the company’s stock on May 09. The stock was bought for $22,500,000 at an average price of $18.00. Upon completion of the transaction, the 10% Owner now directly owns 9,790,729 shares in the company, valued at $234.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 09, Director SEIDENBERG BETH C bought 1,250,000 shares of the business’s stock. A total of $22,500,000 was incurred on buying the stock at an average price of $18.00. This leaves the insider owning 9,790,729 shares of the company worth $234.78 million. Insiders disposed of 3,187,111 shares of company stock worth roughly $76.43 million over the past 1 year.
There have been several recent changes in the stakes of large investors in SLRN stock. A new stake in Acelyrin Inc. shares was purchased by DECHENG CAPITAL MANAGEMENT III (CAYMAN), LLC during the first quarter worth $37,275,000. VICTORY CAPITAL MANAGEMENT INC invested $5,092,000 in shares of SLRN during the first quarter. In the first quarter, JENNISON ASSOCIATES LLC acquired a new stake in Acelyrin Inc. valued at approximately $4,796,000. BANK OF MONTREAL /CAN/ acquired a new stake in SLRN for approximately $2,238,000. BANK OF NEW YORK MELLON CORP purchased a new stake in SLRN valued at around $317,000 in the second quarter.
Thursday morning saw Acelyrin Inc. (NASDAQ: SLRN) opened at $23.70. During the past 12 months, Acelyrin Inc. has had a low of $16.60 and a high of $26.02. The fifty day moving average price for SLRN is $20.69 and a two-hundred day moving average price translates $21.07 for the stock.
The latest earnings results from Acelyrin Inc. (NASDAQ: SLRN) was released for Mar, 2023.
Acelyrin Inc.(SLRN) 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. It is also developing lonigutamab, a humanized immunoglobulin G1 (IgG1) monoclonal antibody against insulin-like growth factor 1 receptor, which is in Phase 1 clinical trials for use in the treatment of thyroid eye disease; and SLRN-517, a fully human IgG1 monoclonal antibody targeting c-KIT, which is in preclinical stage for use in the treatment of chronic urticaria. The company was incorporated in 2020 and is headquartered in Agoura Hills, California.
