Alector, Inc. (NASDAQ:ALEC) Short Interest Update

Alector, Inc. (NASDAQ:ALEC) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 4,850,000 shares, an increase of 16.9% from the September 30th total of 4,150,000 shares. Currently, 6.5% of the company’s shares are short sold. Based on an average trading volume of 493,000 shares, the short-interest ratio is presently 9.8 days.

Insider Transactions at Alector

In related news, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Marc Grasso sold 7,297 shares of the company’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 value of $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at approximately $638,011.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paula Hammond sold 10,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the sale, the director now directly owns 60,209 shares of the company’s stock, valued at approximately $304,657.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock worth $286,013 in the last quarter. Company insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Alector in the 1st quarter valued at $40,000. Swiss National Bank raised its stake in Alector by 6.5% during the 1st quarter. Swiss National Bank now owns 131,900 shares of the company’s stock valued at $794,000 after acquiring an additional 8,000 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Alector in the 1st quarter valued at $760,000. Russell Investments Group Ltd. increased its stake in shares of Alector by 9.9% during the first quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock worth $472,000 after acquiring an additional 7,066 shares during the period. Finally, ProShare Advisors LLC increased its position in Alector by 24.1% during the 1st quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after purchasing an additional 3,827 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Price Performance

NASDAQ:ALEC opened at $5.07 on Tuesday. The firm has a market capitalization of $488.67 million, a PE ratio of -3.67 and a beta of 0.68. The business’s fifty day moving average price is $5.08 and its 200 day moving average price is $5.14. Alector has a 12 month low of $3.66 and a 12 month high of $8.90.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $15.08 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.02 EPS. As a group, equities analysts anticipate that Alector will post -1.92 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alector currently has a consensus 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.