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

Alector, Inc. (NASDAQ:ALEC) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 3,470,000 shares, a decline of 5.7% from the August 15th total of 3,680,000 shares. Approximately 4.6% of the shares of the stock are short sold. Based on an average trading volume of 576,200 shares, the days-to-cover ratio is presently 6.0 days.

Alector Stock Down 0.7 %

Shares of Alector stock opened at $5.64 on Wednesday. The firm has a market capitalization of $543.61 million, a P/E ratio of -4.09 and a beta of 0.68. Alector has a 52 week low of $3.66 and a 52 week high of $8.90. The firm’s 50 day moving average is $5.48 and its two-hundred day moving average is $5.38.

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. The company had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.04 million. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. During the same period in the prior year, the firm posted $0.02 earnings per share. As a group, research analysts expect that Alector will post -1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Arnon Rosenthal sold 26,499 shares of the business’s stock in a transaction dated 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 owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $35,609.36. Following the sale, the chief financial officer now owns 130,740 shares in the company, valued at $638,011.20. 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

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP purchased a new position in shares of Alector during the second quarter worth approximately $29,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Alector during the first quarter worth approximately $40,000. Lazard Asset Management LLC purchased a new position in shares of Alector during the first quarter worth approximately $59,000. Caxton Associates LP grew its position in shares of Alector by 41.3% during the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after acquiring an additional 5,933 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position 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 worth $111,000 after acquiring an additional 8,670 shares during the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ALEC shares. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Alector in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.