Acelyrin, Inc.’s Quiet Period To Expire on June 14th (NASDAQ:SLRN)

Posted by Defense World Staff on Jun 7th, 2023

Acelyrin’s (NASDAQ:SLRN – Get Rating) quiet period is set to end on Wednesday, June 14th. Acelyrin had issued 30,000,000 shares in its IPO on May 5th. The total size of the offering was $540,000,000 based on an initial share price of $18.00. During Acelyrin’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

SLRN has been the topic of several analyst reports. Jefferies Financial Group started coverage on shares of Acelyrin in a research report on Tuesday, May 30th. They set a “buy” rating and a $31.00 price target on the stock. TD Cowen initiated coverage on Acelyrin in a research note on Tuesday, May 30th. They issued an “outperform” rating on the stock. Morgan Stanley assumed coverage on shares of Acelyrin in a research report on Tuesday, May 30th. They issued an “overweight” rating for the company. Finally, Piper Sandler initiated coverage on Acelyrin in a report on Tuesday, May 30th. They set an “overweight” rating and a $68.00 price target for the company.

Acelyrin Stock Down 2.7 %

Shares of SLRN opened at $17.10 on Wednesday. Acelyrin has a fifty-two week low of $16.84 and a fifty-two week high of $25.84.

Insiders Place Their Bets

In other news, CFO Mardi Dier purchased 5,556 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were bought at an average price of $18.00 per share, for a total transaction of $100,008.00. Following the purchase, the chief financial officer now directly owns 5,556 shares in the company, valued at approximately $100,008. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Beth C. Seidenberg acquired 60,000 shares of Acelyrin stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average price of $18.00 per share, for a total transaction of $1,080,000.00. Following the completion of the transaction, the director now owns 60,000 shares in the company, valued at $1,080,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mardi Dier bought 5,556 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $100,008.00. Following the completion of the transaction, the chief financial officer now directly owns 5,556 shares of the company’s stock, valued at approximately $100,008. The disclosure for this purchase can be found here. Insiders purchased 1,316,556 shares of company stock worth $23,698,008 over the last three months.

Acelyrin Company Profile

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Acelyrin Inc is a clinical biopharma company. It focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company’s lead product candidate is izokibep. Acelyrin Inc is based in Agoura Hills, California.