Alector, Inc. (NASDAQ:ALEC) Sees Large Growth in Short Interest

Alector, Inc. (NASDAQ:ALEC) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 4,150,000 shares, an increase of 19.9% from the September 15th total of 3,460,000 shares. Based on an average trading volume of 553,000 shares, the days-to-cover ratio is presently 7.5 days. Approximately 5.5% of the shares of the stock are short sold.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Arnon Rosenthal sold 26,499 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc Grasso sold 7,297 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now owns 130,740 shares in the company, valued at $638,011.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,222 shares of company stock valued at $286,013. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alector

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Alector during the 1st quarter worth approximately $40,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Alector by 89.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after acquiring an additional 8,670 shares during the last quarter. Swiss National Bank grew its stake in Alector by 6.5% in the 1st quarter. Swiss National Bank now owns 131,900 shares of the company’s stock worth $794,000 after acquiring an additional 8,000 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Alector in the 1st quarter valued at about $760,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Alector by 9.9% during the 1st quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock worth $472,000 after buying an additional 7,066 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Stock Performance

Shares of ALEC stock opened at $4.90 on Tuesday. The firm’s 50 day moving average price is $5.11 and its 200-day moving average price is $5.21. Alector has a one year low of $3.66 and a one year high of $8.90. The firm has a market cap of $472.29 million, a P/E ratio of -3.46 and a beta of 0.68.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same period last year, the firm earned $0.02 earnings per share. As a group, research analysts predict that Alector will post -1.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday, September 17th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Alector in a report on Thursday, June 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $17.75.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.