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

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

Alector Trading Up 3.5 %

Alector stock opened at $4.76 on Monday. The firm has a market cap of $458.79 million, a PE ratio of -3.45 and a beta of 0.68. Alector has a 12 month low of $3.66 and a 12 month high of $8.90. The stock’s 50 day simple moving average is $5.08 and its two-hundred day simple moving average is $5.14.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million for the quarter, compared to the consensus estimate 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. On average, equities research analysts forecast that Alector will post -1.92 EPS for the current year.

Insider Buying and Selling

In other Alector news, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, the insider now owns 291,715 shares in the company, valued at approximately $1,423,569.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction that occurred 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 owns 60,209 shares in the company, valued at $304,657.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’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 $67,958.88. Following the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock worth $286,013 in the last three months. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Alector during the first quarter worth approximately $40,000. Swiss National Bank lifted its position in shares of 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 buying an additional 8,000 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Alector in the 1st quarter valued at $760,000. Russell Investments Group Ltd. increased its holdings in Alector by 9.9% in the 1st 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 in the last quarter. Finally, ProShare Advisors LLC raised its position in Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after acquiring an additional 3,827 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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