Acelyrin, Inc. (NASDAQ:SLRN) Expected to Earn Q2 2024 Earnings of ($0.82) Per Share

Acelyrin, Inc. (NASDAQ:SLRN) – Equities research analysts at HC Wainwright issued their Q2 2024 earnings estimates for Acelyrin in a research note issued on Monday, April 1st. HC Wainwright analyst E. Bodnar forecasts that the company will post earnings per share of ($0.82) for the quarter. HC Wainwright currently has a “Buy” rating and a $28.00 price objective on the stock. The consensus estimate for Acelyrin’s current full-year earnings is ($4.24) per share. HC Wainwright also issued estimates for Acelyrin’s Q3 2024 earnings at ($0.78) EPS, Q4 2024 earnings at ($0.75) EPS, FY2024 earnings at ($3.22) EPS, FY2025 earnings at ($6.26) EPS, FY2026 earnings at ($4.88) EPS, FY2027 earnings at ($3.84) EPS and FY2028 earnings at ($2.68) EPS.

Other equities analysts have also issued research reports about the company. Citigroup assumed coverage on Acelyrin in a research report on Friday, December 8th. They issued a “neutral” rating and a $8.00 target price for the company. Wells Fargo & Company boosted their price target on Acelyrin from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Acelyrin Price Performance

SLRN opened at $6.63 on Wednesday. The stock has a 50-day moving average price of $7.72 and a 200-day moving average price of $8.15. The firm has a market cap of $652.13 million and a PE ratio of -0.62. Acelyrin has a 1 year low of $5.70 and a 1 year high of $29.88.

Institutional Investors Weigh In On Acelyrin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC purchased a new position in shares of Acelyrin in the third quarter worth about $4,550,000. Rafferty Asset Management LLC purchased a new position in shares of Acelyrin in the third quarter worth about $1,766,000. Barclays PLC purchased a new position in shares of Acelyrin in the third quarter worth about $1,084,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Acelyrin by 267.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 202,662 shares of the company’s stock worth $2,061,000 after purchasing an additional 147,454 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Acelyrin by 601.1% during the third quarter. Bank of New York Mellon Corp now owns 92,701 shares of the company’s stock valued at $943,000 after acquiring an additional 79,478 shares in the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Acelyrin

In other news, CEO Shao-Lee Lin sold 15,701 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $7.60, for a total transaction of $119,327.60. Following the transaction, the chief executive officer now owns 1,587,335 shares of the company’s stock, valued at approximately $12,063,746. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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.