Alector, Inc. (NASDAQ:ALEC) Short Interest Down 14.5% in November

Alector, Inc. (NASDAQ:ALEC) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 4,020,000 shares, a decline of 14.5% from the October 31st total of 4,700,000 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 744,200 shares, the days-to-cover ratio is currently 5.4 days.

Analyst Upgrades and Downgrades

ALEC has been the subject of several research reports. HC Wainwright decreased their price target on shares of Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. Finally, BTIG Research cut their price target on shares of Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.40.

Insider Buying and Selling at Alector

In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the sale, the insider now directly owns 291,715 shares in the company, valued at $1,423,569.20. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value 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 represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,722 shares of company stock valued at $232,883. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alector

Hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new stake in shares of Alector in the second quarter valued at approximately $29,000. Point72 DIFC Ltd bought a new stake in Alector in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Alector in the 3rd quarter valued at $40,000. nVerses Capital LLC acquired a new stake in Alector during the 3rd quarter valued at $51,000. Finally, Lazard Asset Management LLC bought a new position in Alector during the first quarter worth $59,000. Institutional investors own 85.83% of the company’s stock.

Alector Trading Up 1.8 %

Shares of ALEC opened at $2.59 on Monday. The company’s fifty day simple moving average is $4.62 and its 200 day simple moving average is $4.98. Alector has a 1-year low of $2.37 and a 1-year high of $8.90. The company has a market cap of $253.65 million, a price-to-earnings ratio of -1.52 and a beta of 0.66.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, research analysts forecast that Alector will post -1.86 earnings per share for the current year.

About Alector

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.