The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Acelyrin Inc shares valued at $66,024 were sold by Lin Shao-Lee on Apr 01 ’24. At $6.63 per share, Lin Shao-Lee sold 9,961 shares. The insider’s holdings dropped to 1,577,374 shares worth approximately $7.21 million following the completion of this transaction.
Also, Lin Shao-Lee sold 15,701 shares, netting a total of over 119,403 in proceeds. Following the sale of shares at $7.60 each, the insider now holds 1,587,335 shares.
Before that, Lin Shao-Lee had sold 10,691 shares from its account. In a trade valued at $79,188, the Chief Executive Officer traded Acelyrin Inc shares for $7.41 each. Upon closing the transaction, the insider’s holdings decreased to 10,691 shares, worth approximately $7.33 million.
As published in their initiating research note from Wells Fargo on December 13, 2023, Acelyrin Inc [SLRN] has been an Equal weight and the price target has been revised to $11. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in early December. As of September 13, 2023, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for SLRN. Earlier on September 05, 2023, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for SLRN stock.
Analyzing SLRN Stock Performance
During the last five days, there has been a drop of approximately -8.96%. Over the course of the year, Acelyrin Inc shares have dropped approximately -38.74%. A 50-day SMA is recorded $7.02, while a 200-day SMA reached $11.70. Nevertheless, trading volume fell to 0.53 million shares from 2.03 million shares the previous day.
Support And Resistance Levels for Acelyrin Inc (SLRN)
According to the 24-hour chart, there is a support level at 4.47, which, if violated, would cause prices to drop to 4.38. In the upper region, resistance lies at 4.72. The next price resistance is at 4.88. RSI (Relative Strength Index) is 23.41 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.66, which suggests the price will decrease in the coming days. Percent R is at 97.79%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
