Short Interest in Aileron Therapeutics, Inc. (NASDAQ:ALRN) Drops By 22.5%

Aileron Therapeutics, Inc. (NASDAQ:ALRN) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 180,700 shares, a decrease of 22.5% from the October 31st total of 233,300 shares. Based on an average daily volume of 78,900 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Aileron Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. KG&L Capital Management LLC bought a new position in Aileron Therapeutics in the third quarter valued at approximately $46,000. Warberg Asset Management LLC bought a new position in shares of Aileron Therapeutics in the 2nd quarter worth $86,000. Sigma Planning Corp grew its stake in shares of Aileron Therapeutics by 68.3% during the third 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. Geode Capital Management LLC lifted its stake in Aileron Therapeutics by 34.8% in the third quarter. Geode Capital Management LLC now owns 229,817 shares of the company’s stock valued at $814,000 after buying an additional 59,370 shares during the period. Finally, Nantahala Capital Management LLC boosted its holdings in Aileron Therapeutics by 82.1% during the second quarter. Nantahala Capital Management LLC now owns 464,367 shares of the company’s stock worth $1,286,000 after buying an additional 209,367 shares during the last quarter. Institutional investors own 90.89% of the company’s stock.

Aileron Therapeutics Stock Performance

ALRN traded up $0.12 during mid-day trading on Friday, reaching $2.86. The stock had a trading volume of 14,804 shares, compared to its average volume of 73,709. The firm’s fifty day simple moving average is $3.44 and its two-hundred day simple moving average is $3.06. The stock has a market capitalization of $61.98 million, a P/E ratio of -0.92 and a beta of 2.35. Aileron Therapeutics has a 52 week low of $1.61 and a 52 week high of $7.42.

Aileron Therapeutics Company Profile

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).