The University of Texas/Texas A&M Investment Management Co has reported a series of stock sales of Aileron Therapeutics, Inc. (NASDAQ:ALRN) shares, according to a recent SEC filing. The transactions, which took place between June 5 and June 7, 2024, involved a total disposal of shares worth over $40,528.
On June 5, the investment management company sold 6,291 shares at a price of $3.3 per share. The following day, two separate transactions were recorded: one for 1,100 shares at $3.27 each and another for 3,184 shares at $3.3 each. On June 7, the sales continued with 1,564 shares being sold at $3.25 per share and a smaller lot of 176 shares at $3.3 each.
The sales occurred at prices ranging from $3.25 to $3.3 per share, reflecting a slight fluctuation in the stock's trading price during the reporting period. Following these transactions, the University of Texas/Texas A&M Investment Management Co's ownership in Aileron Therapeutics decreased, but the company still held a significant number of shares.
The University of Texas/Texas A&M Investment Management Co, which operates under an Investment Management Services Agreement with the Board of Regents of the University of Texas System, holds these shares on behalf of the Regents and has the authority to make investment decisions and vote on their behalf.
Joan Moeller, the Chief Operating Officer of the investment management firm, signed off on the SEC filing on June 7, 2024. Investors and market watchers often look to such filings for insights into the actions of institutional investors regarding their holdings in publicly traded companies.
In other recent news, Aileron Therapeutics has announced a direct registered offering of its securities, with an expected gross intake of around $20 million. The offering includes approximately 4.27 million shares of common stock and equal warrants, priced at $4.68 each. The company has also reported positive results from the first cohort of a Phase 1b clinical trial for its treatment candidate LTI-03, intended for idiopathic pulmonary fibrosis (IPF). The trial demonstrated a potential therapeutic effect, with seven of eight IPF biomarkers showing a favorable trend.
In addition, Aileron Therapeutics' shares have seen a significant increase in their price target, as financial services company Ladenburg Thalmann doubled the target from $9.00 to $19.00. This revision reflects anticipation for Aileron's upcoming biomarker data report for LTI-03. Lastly, Aileron Therapeutics has appointed Dr. Brian Windsor as its new President and Chief Executive Officer, succeeding Dr. Manuel Aivado. These are among the recent developments for the biopharmaceutical company.
InvestingPro Insights
The recent sales of Aileron Therapeutics (NASDAQ:ALRN) by the University of Texas/Texas A&M Investment Management Co coincide with a period of notable volatility in the company's stock price. InvestingPro data shows that Aileron Therapeutics has experienced a 109.03% return over the last year, despite a -42.76% price total return in the last three months. This volatility is also reflected in the stock's current market capitalization of $69.84 million.
Two InvestingPro Tips that are particularly relevant given the recent transactions are the company's balance sheet strength, holding more cash than debt, and the stock being in oversold territory according to the RSI indicator. These factors could be influencing institutional investment decisions. Additionally, while Aileron Therapeutics' stock has seen a large price uptick over the last six months, analysts are not expecting the company to be profitable this year.
For investors considering following in the footsteps of the University of Texas/Texas A&M Investment Management Co or looking for more insights into Aileron Therapeutics, there are additional InvestingPro Tips available. These include analysis on the company's gross profit margins, its liquidity position, and dividend policy. Discover more about these metrics and others by exploring the full list of tips on InvestingPro, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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