Acelyrin (NASDAQ:SLRN) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Acelyrin (NASDAQ:SLRN) released its quarterly earnings results on Wednesday. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.07, Zacks reports.

Acelyrin Stock Down 1.1 %

Shares of Acelyrin stock opened at $2.79 on Thursday. The firm’s 50-day moving average price is $2.26 and its two-hundred day moving average price is $3.84. The company has a market capitalization of $279.91 million, a price-to-earnings ratio of -1.13 and a beta of 1.25. Acelyrin has a 12-month low of $1.85 and a 12-month high of $8.59.

Analysts Set New Price Targets

SLRN has been the subject of a number of recent research reports. Citigroup dropped their price objective 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. Wells Fargo & Company lowered their price target on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Finally, HC Wainwright dropped their price target on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Acelyrin currently has a consensus rating of “Hold” and an average price target of $9.60.

Insider Buying and Selling

In other news, CEO Mina Kim sold 17,986 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $2.74, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.60% of the stock is owned by corporate insiders.

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.