Acelyrin Inc. (SLRN) receives an Outperform rating from TD Cowen

CHWY Stock
CHWY Stock

In a filing, Acelyrin Inc. revealed its 10% Owner Westlake BioPartners Fund II, acquired Company’s shares for reported $22.5 million on May 09. In the deal valued at $18.00 per share,1,250,000 shares were bought. As a result of this transaction, Westlake BioPartners Fund II, now holds 9,790,729 shares worth roughly $ 265.52 million.

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Then, SEIDENBERG BETH C bought 1,250,000 shares, generating $22,500,000 in total proceeds. Upon buying the shares at $18.00, the Director now owns 9,790,729 shares.

Before that, SEIDENBERG BETH C bought 60,000 shares. Acelyrin Inc. shares valued at $1,080,000 were divested by the Director at a price of $18.00 per share. As a result of the transaction, SEIDENBERG BETH C now holds 60,000 shares, worth roughly $1.63 million.

TD Cowen initiated its Acelyrin Inc. [SLRN] rating to an Outperform in a research note published on Friday.

Price Performance Review of SLRN

On Friday, Acelyrin Inc. [NASDAQ:SLRN] saw its stock jump 7.07% to $27.12. On the same session, the stock had its day’s lowest price of $25.32, but rose to a high of $28.00. Over the last five days, the stock has gained 10.65%. Acelyrin Inc. shares have risen nearly 15.40% since the year began. A total of 1.12 million shares were traded, compared to the trading of 0.97 million shares in the previous session.

Levels Of Support And Resistance For SLRN Stock

The 24-hour chart illustrates a support level at 25.63, which if violated will result in even more drops to 24.13. On the upside, there is a resistance level at 28.31. A further resistance level may holdings at 29.49. The Relative Strength Index (RSI) on the 14-day chart is 58.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.84, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.11%. Stochastics %K at 31.19% indicates the stock is a holding.

How much short interest is there in Acelyrin Inc.?

A steep rise in short interest was recorded in Acelyrin Inc. stocks on Aug 14, 2023, dropping by -0.64 million shares to a total of 5.47 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.11 million shares. There was a decline of -11.7%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.16% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.79.

Acelyrin Inc. [SLRN] – Who Are The Largest Shareholders?

In filings from AyurMaya Capital Management Co. L, it is revealed that the company now owns 9,334,735 shares, or roughly 9.60% of the outstanding SLRN shares.. At present, The Vanguard Group, Inc. is holding 3,060,010 shares valued at $76.01 million. Ikarian Capital LLC owned 2,918,426 shares of the company at the time of its most recent 13F filing, worth $72.49 million.

According to FactSet, Acelyrin Inc.’s share price will average $42.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 22.38 percent from its previous closing price of $25.33. Analysts expect Acelyrin Inc. stock to reach the higher price of $68.00, while the lowest price estimate is $29.00. However, 4 analysts have rated SLRN stock as a Buy in their predictions for 2023.


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