Aileron Therapeutics, Inc. (NASDAQ:ALRN) Sees Large Decline in Short Interest

Aileron Therapeutics, Inc. (NASDAQ:ALRN) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 233,300 shares, a decrease of 8.7% from the October 15th total of 255,600 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 74,800 shares, the short-interest ratio is currently 3.1 days.

Aileron Therapeutics Stock Performance

Shares of NASDAQ:ALRN opened at $2.89 on Tuesday. The company has a market capitalization of $62.61 million, a PE ratio of -0.93 and a beta of 2.35. The stock has a fifty day moving average of $3.49 and a 200-day moving average of $3.12. Aileron Therapeutics has a one year low of $1.61 and a one year high of $7.42.

Institutional Investors Weigh In On Aileron Therapeutics

Several hedge funds have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new position in Aileron Therapeutics in the 2nd quarter worth about $4,925,000. Nantahala Capital Management LLC raised its holdings in shares of Aileron Therapeutics by 82.1% during the second quarter. Nantahala Capital Management LLC now owns 464,367 shares of the company’s stock valued at $1,286,000 after acquiring an additional 209,367 shares during the period. Warberg Asset Management LLC acquired a new stake in shares of Aileron Therapeutics during the second quarter valued at approximately $86,000. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Aileron Therapeutics by 65.9% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 26,171 shares of the company’s stock valued at $174,000 after acquiring an additional 10,398 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in Aileron Therapeutics by 68.3% in the 3rd quarter. Sigma Planning Corp now owns 212,410 shares of the company’s stock worth $752,000 after purchasing an additional 86,185 shares during the period. 90.89% of the stock is owned by hedge funds and other institutional investors.

About Aileron Therapeutics

Aileron Therapeutics, Inc, a biopharmaceutical company, focuses on developing medicines to address unmet medical needs in orphan pulmonary and fibrosis indications in the United States. The company's lead product candidate is LTI-03, a peptide, which is in Phase 1b clinical trial for the treatment of idiopathic pulmonary fibrosis (IPF).