Acelyrin (NASDAQ:SLRN) Issues Earnings Results

Acelyrin (NASDAQ:SLRN) announced its quarterly earnings data on Wednesday. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.07, Zacks reports.

Acelyrin Trading Down 1.1 %

Shares of NASDAQ SLRN opened at $2.79 on Thursday. The stock has a market cap of $279.91 million, a price-to-earnings ratio of -1.13 and a beta of 1.25. The stock’s 50-day moving average is $2.26 and its 200 day moving average is $3.84. Acelyrin has a 1-year low of $1.85 and a 1-year high of $8.59.

Insiders Place Their Bets

In related news, CEO Mina Kim sold 17,986 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $2.74, for a total transaction of $49,281.64. Following the completion of the sale, the chief executive officer now directly owns 671,753 shares in the company, valued at $1,840,603.22. This represents a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

SLRN has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Citigroup decreased their target price on Acelyrin from $6.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, HC Wainwright dropped their price target on Acelyrin from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.60.

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.