Acelyrin, Inc. (NASDAQ:SLRN) Shares Sold by Ikarian Capital LLC

Ikarian Capital LLC lowered its stake in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 32.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,564,340 shares of the company’s stock after selling 763,565 shares during the period. Acelyrin accounts for 1.2% of Ikarian Capital LLC’s investment portfolio, making the stock its 17th largest position. Ikarian Capital LLC owned 1.58% of Acelyrin worth $10,559,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SLRN. Vanguard Group Inc. boosted its position in shares of Acelyrin by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,189,027 shares of the company’s stock valued at $32,432,000 after acquiring an additional 116,847 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Acelyrin in the 4th quarter valued at approximately $110,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Acelyrin in the 4th quarter valued at approximately $84,000. Vontobel Holding Ltd. acquired a new stake in shares of Acelyrin during the 4th quarter worth approximately $2,429,000. Finally, Strs Ohio raised its position in shares of Acelyrin by 504.3% during the 4th quarter. Strs Ohio now owns 42,300 shares of the company’s stock valued at $315,000 after buying an additional 35,300 shares during the period. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

Acelyrin Stock Down 4.3 %

NASDAQ SLRN traded down $0.26 on Thursday, reaching $5.74. The stock had a trading volume of 1,209,943 shares, compared to its average volume of 1,104,876. The stock has a fifty day moving average price of $4.97 and a two-hundred day moving average price of $5.98. Acelyrin, Inc. has a 12-month low of $3.67 and a 12-month high of $29.88. The firm has a market capitalization of $568.43 million, a price-to-earnings ratio of -2.41 and a beta of 2.56.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.57. Sell-side analysts forecast that Acelyrin, Inc. will post -3.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLRN. Wells Fargo & Company upgraded Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a research report on Monday, July 8th. HC Wainwright increased their price target on Acelyrin from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Acelyrin 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.