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

Aileron Therapeutics, Inc. (NASDAQ:ALRN) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 180,700 shares, a drop of 22.5% from the October 31st total of 233,300 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 78,900 shares, the short-interest ratio is currently 2.3 days.

Hedge Funds Weigh In On Aileron Therapeutics

Several large investors have recently added to or reduced their stakes in ALRN. Geode Capital Management LLC grew its position 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 acquiring an additional 59,370 shares during the period. Sigma Planning Corp lifted its holdings in Aileron Therapeutics by 68.3% during the 3rd quarter. Sigma Planning Corp now owns 212,410 shares of the company’s stock valued at $752,000 after purchasing an additional 86,185 shares during the last quarter. KG&L Capital Management LLC acquired a new position in Aileron Therapeutics in the third quarter valued at about $46,000. University of Texas Texas AM Investment Management Co. acquired a new position in Aileron Therapeutics in the second quarter valued at about $4,925,000. Finally, Nantahala Capital Management LLC grew its stake 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 and hedge funds own 90.89% of the company’s stock.

Aileron Therapeutics Price Performance

NASDAQ:ALRN traded up $0.12 during midday trading on Friday, reaching $2.86. The stock had a trading volume of 14,804 shares, compared to its average volume of 73,709. Aileron Therapeutics has a 1-year low of $1.61 and a 1-year high of $7.42. The firm’s fifty day simple moving average is $3.44 and its 200-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.

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).