Acelyrin Inc [SLRN] Insider Lin Shao-Lee sells 15,701 Shares – Insider Selling Alert

Acelyrin Inc’s filing revealed that its Chief Executive Officer Lin Shao-Lee unloaded Company’s shares for reported $0.12 million on Feb 20 ’24. In the deal valued at $7.60 per share,15,701 shares were sold. As a result of this transaction, Lin Shao-Lee now holds 1,587,335 shares worth roughly $10.38 million.

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Then, Lin Shao-Lee sold 10,691 shares, generating $79,188 in total proceeds. Upon selling the shares at $7.41, the Chief Executive Officer now owns 1,603,036 shares.

Before that, Westlake BioPartners Fund II, bought 1,250,000 shares. Acelyrin Inc shares valued at $22,500,000 were divested by the 10% Owner at a price of $18.00 per share. As a result of the transaction, Westlake BioPartners Fund II, now holds 9,790,729 shares, worth roughly $64.03 million.

Wells Fargo initiated its Acelyrin Inc [SLRN] rating to an Equal weight in a research note published on December 13, 2023; the price target was $11. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early December with a ‘”a Neutral”‘ rating. Morgan Stanley also remained covering SLRN and has decreased its forecast on September 13, 2023 with a “an Equal-weight” recommendation from previously “an Overweight” rating. H.C. Wainwright started covering the stock on September 05, 2023. It rated SLRN as “a Buy”.

Price Performance Review of SLRN

On Tuesday, Acelyrin Inc [NASDAQ:SLRN] saw its stock fall -1.80% to $6.54. Over the last five days, the stock has lost -2.97%. Acelyrin Inc shares have fallen nearly -12.33% since the year began. SMA at 50 days reached $7.70, while 200 days put it at $12.89. A total of 1.26 million shares were traded, compared to the trading of 0.8 million shares in the previous session.

Levels Of Support And Resistance For SLRN Stock

The 24-hour chart illustrates a support level at 6.36, which if violated will result in even more drops to 6.18. On the upside, there is a resistance level at 6.74. A further resistance level may holdings at 6.95. The Relative Strength Index (RSI) on the 14-day chart is 36.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.31%. Stochastics %K at 12.76% indicates the stock is a buying.

How much short interest is there in Acelyrin Inc?

A steep rise in short interest was recorded in Acelyrin Inc stocks on Mar 15, 2024, growing by 1.72 million shares to a total of 8.41 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 6.69 million shares. There was a rise of 20.45%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.91.

The most recent change occurred on May 30, 2023 when TD Cowen began covering the stock and recommended ‘”an Outperform”‘ rating.

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