Acelyrin, Inc. (NASDAQ:SLRN) Short Interest Update

Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,650,000 shares, a decline of 22.0% from the March 15th total of 4,680,000 shares. Based on an average trading volume of 2,170,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 5.0% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLRN shares. Citigroup decreased their target price on shares of Acelyrin from $6.00 to $3.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. HC Wainwright lowered their price target on Acelyrin from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Acelyrin has a consensus rating of "Hold" and an average target price of $9.60.

Acelyrin Price Performance

SLRN traded down $0.10 on Thursday, hitting $2.16. The company had a trading volume of 262,229 shares, compared to its average volume of 1,206,803. Acelyrin has a 1-year low of $1.85 and a 1-year high of $7.25. The stock has a market cap of $217.45 million, a price-to-earnings ratio of -0.87 and a beta of 1.12. The company's fifty day moving average price is $2.47 and its 200 day moving average price is $3.40.

Acelyrin (NASDAQ:SLRN - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.07. On average, sell-side analysts forecast that Acelyrin will post -2.53 EPS for the current year.

Insider Buying and Selling

In other Acelyrin news, CEO Mina Kim sold 17,986 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $2.74, for a total transaction of $49,281.64. Following the transaction, the chief executive officer now owns 671,753 shares in the company, valued at approximately $1,840,603.22. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Acelyrin

Several hedge funds have recently made changes to their positions in SLRN. ProShare Advisors LLC raised its stake in shares of Acelyrin by 28.5% in the 4th quarter. ProShare Advisors LLC now owns 25,307 shares of the company's stock valued at $79,000 after buying an additional 5,617 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Acelyrin by 21.9% in the fourth quarter. Wells Fargo & Company MN now owns 52,014 shares of the company's stock valued at $163,000 after buying an additional 9,332 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Acelyrin during the third quarter worth approximately $50,000. HighTower Advisors LLC acquired a new position in Acelyrin during the 3rd quarter worth $50,000. Finally, XTX Topco Ltd bought a new position in Acelyrin in the fourth quarter valued at about $33,000. Institutional investors own 87.31% of the company's stock.

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.