Alector, Inc. (NASDAQ:ALEC) Sees Significant Decrease in Short Interest

Alector, Inc. (NASDAQ:ALEC) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 3,680,000 shares, a decrease of 10.2% from the July 31st total of 4,100,000 shares. Based on an average trading volume of 638,000 shares, the days-to-cover ratio is presently 5.8 days. Currently, 4.9% of the company’s stock are sold short.

Alector Stock Performance

ALEC opened at $5.28 on Tuesday. The company has a market cap of $513.85 million, a PE ratio of -3.83 and a beta of 0.72. The stock has a 50-day moving average of $5.29 and a 200-day moving average of $5.48. Alector has a 52-week low of $3.66 and a 52-week high of $8.90.

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

Insider Transactions at Alector

In related news, Director Paula Hammond sold 10,500 shares of Alector stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.06, for a total transaction of $53,130.00. Following the completion of the sale, the director now owns 60,209 shares of the company’s stock, valued at $304,657.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP bought a new stake in Alector during the second quarter valued at about $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Alector during the 1st quarter worth about $40,000. Lazard Asset Management LLC acquired a new position in shares of Alector during the 1st quarter worth about $59,000. E Fund Management Co. Ltd. bought a new stake in Alector during the 4th quarter valued at approximately $81,000. Finally, Caxton Associates LP grew its holdings in Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after buying an additional 5,933 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALEC. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Alector in a report on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.67.

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.