Fidelity Management & Research Co recently announced the acquisition of new stake in Acelyrin Inc (NASDAQ:SLRN). The institutional investor has increased its shareholding in the Healthcare company by 20.19% to 8.96 million shares with purchase of 1.51 million shares. This fresh investment now brings its stake to 9.22% valued currently at $91.27 million. In addition, The Vanguard Group, Inc. raised its holdings by 61724.0 to 3.12 million shares. And Invus Public Equities Advisors LL has lifted its position by 35.58% or 0.65 million shares – to 2.47 million shares.
With over 6.27 million Acelyrin Inc (SLRN) shares trading Tuesday and a closing price of $5.88 on the day, the dollar volume was approximately $36.89 million. The shares have shown a negative half year performance of -67.64% and its price on 11/28/23 lost nearly -32.41%. Currently, there are 92.70M common shares owned by the public and among those 61.24M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for SLRN have a consensus price objective of $30.75. The analysts have set the share’s price value over the next 12 months at a high of $68.00 and a low of $12.00. The average price target is 80.88% above its recent price level and an upside to the estimated low will see the stock gain 51.0% over that period. But an upside of 91.35% will see the stock hit the forecast high price target while median target price for the stock is $21.50.
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 34,595,514 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 4,348,858 shares.
The top 3 mutual fund holders in Acelyrin Inc are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and JPMorgan Funds – Global Healthcar. SPDR S&P Biotech ETF owns 1.51 million shares of the company’s stock, all valued at over $15.34 million. The company bought an additional 9006.0 shares recently to bring their total holdings to about 1.55% of the shares outstanding. JPMorgan Funds – Global Healthcar now owns shares totaling to 1.02% of the shares outstanding.
Shares of Acelyrin Inc (NASDAQ: SLRN) opened at $7.75, down -$0.95 from a prior closing price of $8.70. However, the script later moved the day high at 8.02, down -32.41%. The company’s stock has a 5-day price change of -33.93% and -77.00% over the past three months. It has a 12-month low price of $7.68 and touched a high of $29.88 over the same period. SLRN has an average intraday trading volume of 1.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -34.13%, -38.20%, and -66.76% respectively.
Institutional ownership of Acelyrin Inc (NASDAQ: SLRN) shares accounts for 68.89% of the company’s 92.70M shares outstanding. Mutual fund holders own 20.70%, while other institutional holders and individual stakeholders account for 48.19% and 13.83% respectively.
It has a market capitalization of $571.77M. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.56% over the week and 7.95% over the month.
Analysts forecast that Acelyrin Inc (SLRN) will achieve an EPS of -$0.99 for the current quarter, -$1.12 for the next quarter and -$4.54 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.23 while analysts give the company a high EPS estimate of -$0.78. Earnings per share for the fiscal year are expected to increase by 64.89%, and 40.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Acelyrin Inc (SLRN) as a “Strong Buy” at a consensus score of 1.40. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SLRN, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on September 13, 2023, with the firm’s price target at $19.
