Alector, Inc. (NASDAQ:ALEC) Short Interest Down 35.8% in June

Alector, Inc. (NASDAQ:ALEC) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 5,500,000 shares, a decrease of 35.8% from the May 31st total of 8,570,000 shares. Based on an average trading volume of 623,700 shares, the short-interest ratio is presently 8.8 days. Approximately 7.3% of the shares of the company are short sold.

Alector Stock Performance

ALEC stock opened at $4.54 on Monday. The firm’s 50-day moving average is $4.96 and its two-hundred day moving average is $6.04. The company has a market capitalization of $437.61 million, a price-to-earnings ratio of -3.29 and a beta of 0.77. Alector has a 52 week low of $3.66 and a 52 week high of $9.06.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.10. The firm had revenue of $15.89 million during the quarter, compared to the consensus estimate of $14.63 million. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. On average, equities research analysts predict that Alector will post -1.93 earnings per share for the current year.

Insider Activity at Alector

In other Alector news, CFO Marc Grasso sold 6,920 shares of Alector stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $33,216.00. Following the completion of the transaction, the chief financial officer now owns 138,037 shares of the company’s stock, valued at $662,577.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alector news, CFO Marc Grasso sold 6,920 shares of Alector stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $33,216.00. Following the completion of the transaction, the chief financial officer now directly owns 138,037 shares in the company, valued at $662,577.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 25,135 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $120,648.00. Following the sale, the chief executive officer now owns 1,975,245 shares in the company, valued at $9,481,176. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,095 shares of company stock valued at $192,456. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Alector in the first quarter worth about $40,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Alector by 352.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after purchasing an additional 7,584 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Alector in the 1st quarter worth approximately $59,000. E Fund Management Co. Ltd. acquired a new stake in Alector during the fourth quarter valued at approximately $81,000. Finally, Diversified Trust Co boosted its holdings in Alector by 12.3% during the fourth quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock worth $113,000 after buying an additional 1,541 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Analyst Upgrades and Downgrades

ALEC has been the subject of several recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Alector in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alector presently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.