Adage Capital Partners GP L.L.C. Reduces Stake in Acelyrin, Inc. (NASDAQ:SLRN)

Adage Capital Partners GP L.L.C. trimmed its position in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 450,000 shares of the company’s stock after selling 95,476 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Acelyrin were worth $1,413,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of Acelyrin in the 4th quarter worth about $33,000. Hsbc Holdings PLC purchased a new stake in shares of Acelyrin in the fourth quarter valued at about $36,000. RPO LLC acquired a new stake in shares of Acelyrin in the fourth quarter valued at approximately $46,000. Virtu Financial LLC purchased a new position in shares of Acelyrin during the 3rd quarter worth approximately $50,000. Finally, Intech Investment Management LLC raised its position in shares of Acelyrin by 71.0% during the 4th quarter. Intech Investment Management LLC now owns 26,587 shares of the company’s stock worth $83,000 after purchasing an additional 11,040 shares during the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SLRN shares. HC Wainwright lowered their target price on Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Citigroup dropped their price objective on Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.60.

Acelyrin Stock Up 12.4 %

Shares of Acelyrin stock opened at $2.45 on Wednesday. The firm has a market cap of $247.22 million, a PE ratio of -1.00 and a beta of 1.12. Acelyrin, Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $7.25. The business’s fifty day moving average is $2.47 and its two-hundred day moving average is $3.31.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.07. Equities research analysts anticipate that Acelyrin, Inc. will post -2.53 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mina Kim sold 17,986 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $2.74, for a total value of $49,281.64. Following the transaction, the chief executive officer now directly owns 671,753 shares of the company’s stock, valued at approximately $1,840,603.22. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.60% of the company’s stock.

Acelyrin 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.