Aileron Therapeutics (NASDAQ:ALRN) Downgraded by Zacks Investment Research to “Hold”

Aileron Therapeutics (NASDAQ:ALRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Aileron Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It engages in developing and commercializing a novel class of therapeutics primarily in the United States. The companys lead product includes ALRN-6924, targets the tumor suppressor protein p53 for the treatment of a range of cancers which are in clinical stage. Aileron Therapeutics, Inc. is based in Cambridge, Massachusetts. “

ALRN has been the subject of a number of other research reports. Canaccord Genuity lowered their target price on shares of Aileron Therapeutics to $5.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. HC Wainwright began coverage on shares of Aileron Therapeutics in a research note on Monday, March 11th. They set a “buy” rating and a $7.00 target price for the company. Finally, William Blair reiterated an “outperform” rating on shares of Aileron Therapeutics in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Aileron Therapeutics currently has a consensus rating of “Buy” and an average target price of $4.67.

Shares of NASDAQ:ALRN traded down $0.03 during trading on Tuesday, hitting $0.91. The company’s stock had a trading volume of 510 shares, compared to its average volume of 216,076. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.11 and a current ratio of 3.11. Aileron Therapeutics has a fifty-two week low of $0.52 and a fifty-two week high of $6.18.

Aileron Therapeutics (NASDAQ:ALRN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.13). Equities analysts expect that Aileron Therapeutics will post -1.11 EPS for the current year.

In related news, major shareholder Bioventures Ltd Novartis sold 127,150 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $1.86, for a total transaction of $236,499.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.10% of the company’s stock.

Several hedge funds have recently modified their holdings of ALRN. Jennison Associates LLC boosted its stake in Aileron Therapeutics by 649.6% in the first quarter. Jennison Associates LLC now owns 2,040,255 shares of the company’s stock valued at $3,828,000 after acquiring an additional 1,768,073 shares in the last quarter. Deutsche Bank AG boosted its stake in Aileron Therapeutics by 432.9% in the fourth quarter. Deutsche Bank AG now owns 129,170 shares of the company’s stock valued at $108,000 after acquiring an additional 104,932 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Aileron Therapeutics in the third quarter valued at $137,000. Blair William & Co. IL acquired a new position in Aileron Therapeutics in the first quarter valued at $43,000. Finally, Morgan Stanley boosted its stake in Aileron Therapeutics by 2.9% in the first quarter. Morgan Stanley now owns 398,139 shares of the company’s stock valued at $776,000 after acquiring an additional 11,213 shares in the last quarter. Hedge funds and other institutional investors own 29.17% of the company’s stock.

About Aileron Therapeutics

Aileron Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing a novel class of therapeutics in the United States. The company's lead product candidate is ALRN-6924, a stapled peptide, which is in Phase I clinical trial for the treatment of advanced solid tumors or lymphomas; Phase IIa clinical trial to treat peripheral T-cell lymphoma; Phase I clinical trial for the treatment of acute myeloid leukemia (AML) and advanced myelodysplastic syndrome (MDS); and Phase IIb trial to treat AML/MDS in combination with cytosine arabinoside.

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