Alector, Inc. (NASDAQ:ALEC) Short Interest Up 19.9% in September

Alector, Inc. (NASDAQ:ALEC) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 4,150,000 shares, a growth of 19.9% from the September 15th total of 3,460,000 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average trading volume of 553,000 shares, the days-to-cover ratio is currently 7.5 days.

Alector Stock Up 5.5 %

Shares of Alector stock opened at $4.80 on Monday. Alector has a twelve month low of $3.66 and a twelve month high of $8.90. The company has a 50-day simple moving average of $5.11 and a two-hundred day simple moving average of $5.22. The stock has a market capitalization of $462.65 million, a price-to-earnings ratio of -3.48 and a beta of 0.68.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The business had revenue of $15.08 million during the quarter, compared to analysts’ expectations of $16.04 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. On average, sell-side analysts anticipate that Alector will post -1.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALEC has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Transactions at Alector

In related news, CFO Marc Grasso sold 7,297 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at $638,011.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Paula Hammond sold 10,500 shares of Alector stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.06, for a total transaction of $53,130.00. Following the completion of the transaction, the director now directly owns 60,209 shares of the company’s stock, valued at $304,657.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at $638,011.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,222 shares of company stock valued at $286,013. 9.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new stake in Alector during the 1st quarter worth approximately $760,000. Vanguard Group Inc. grew its holdings in Alector by 12.0% in the first quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after purchasing an additional 526,037 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Alector by 211.6% during the first quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after buying an additional 301,936 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Alector by 73.1% during the second quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock valued at $419,000 after buying an additional 38,947 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Alector by 6.5% during the first 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 during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

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.