Fidelity Management & Research Co has recently announced that it has increased stake in Acelyrin Inc (NASDAQ:SLRN) by 20.19%. After grabbing 8.96 million shares, the institutional investor is now in possession of 1.51 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.22% having worth around $91.27 million. Moreover, The Vanguard Group, Inc. increased its share by 61724.0 to have a control over 3.12 million shares. And Invus Public Equities Advisors LL raised its holdings to 0.65 million shares by acquiring 2.47 million shares or 2.54% of the stake.
Acelyrin Inc (SLRN) concluded trading on 11/22/23 at a closing price of $8.49, with 0.47 million shares of worth about $4.03 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -59.34% during that period and on Wednesday the price saw a loss of about -1.51%. Currently the company’s common shares owned by public are about 92.70M shares, out of which, 61.24M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the SLRN stock and their offered price forecasts bring an average price target of $33.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $68.00 and could fall to a lowest price of $15.00. The stock’s current price level is 74.27% above of average price target set by the analysts, while a rise to estimated low would result in gain of 43.4% for the stock. However, touching the estimated high of $68.00 would mean a gain of 87.51% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 34 times over the past 12 months. They bought 34,368,707 shares in 27 of the transactions. In 7 selling transactions, insiders dumped 3,187,111 shares.
SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and JPMorgan Funds – Global Healthcar are the top 3 mutual funds which are holding stakes in Acelyrin Inc SPDR S&P Biotech ETF is currently holding 1.51 million shares of worth totaling $15.34 million. The company recently came buying 9006.0 shares which brought its stake up to 1.55% of the company’s outstanding shares. JPMorgan Funds – Global Healthcar, after buying 0.99 million shares, have now control over 1.02% of the stake in the company. It holds 0.0 shares of worth $10.09 million.
Acelyrin Inc (NASDAQ: SLRN) started trading at $8.66, above $0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 8.78, or with a loss of -1.51%. Stock saw a price change of -7.21% in past 5 days and over the past one month there was a price change of -18.76%. Over the period of past 52 weeks, stock dropped to lowest price of $7.68 but also hit the highest price of $29.88 during that period. The average intraday trading volume for Acelyrin Inc shares is 1.31 million. The stock is currently trading -6.39% below its 20-day simple moving average (SMA20), while that difference is down -12.10% for SMA50 and it goes to -52.53% lower than SMA200.
Fidelity Management & Research Co acquired 8.96 million shares of Acelyrin Inc having value of about $91.27 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 1.51 million shares in the company valued at close to $12779963.04, or have control over 20.19% stake in the company. Acelyrin Inc (NASDAQ: SLRN) currently have 92.70M outstanding shares and institutions hold larger chunk of about 68.89% of that. Holding of mutual funds in the company is about 20.57% while other institutional holders and individual stake holders have control over 48.32% and 13.83% of the stake respectively.
The stock has a current market capitalization of $825.57M. It has Quick Ratio of 11.88 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SLRN, volatility over the week remained 5.93% while standing at 6.65% over the month.
Analysts are in expectations that Acelyrin Inc (SLRN) stock would likely to be making an EPS of -$0.99 in the current quarter, while forecast for next quarter EPS is -$1.12 and it is -$4.54 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.23 which is -$0.78 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 66.23% while it is estimated to increase by 40.75% in next year.
Analysts at 5 brokerage firms have issued recommendations for the Acelyrin Inc (SLRN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.40. Out of those 5 Wall Street analysts, 4 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on September 13, 2023 offering an Equal-weight rating for the stock and assigned a target price of $19 to it.
