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

Alector, Inc. (NASDAQ:ALEC) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 6,470,000 shares, an increase of 10.6% from the March 15th total of 5,850,000 shares. Currently, 8.9% of the shares of the stock are sold short. Based on an average trading volume of 690,900 shares, the short-interest ratio is presently 9.4 days.

Alector Price Performance

Alector stock opened at $6.02 on Monday. The stock has a fifty day moving average price of $6.28 and a two-hundred day moving average price of $6.24. Alector has a 52-week low of $3.66 and a 52-week high of $9.06. The firm has a market capitalization of $576.42 million, a P/E ratio of -3.88 and a beta of 0.79.

Alector (NASDAQ:ALEC) last announced its earnings results on Tuesday, February 27th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.31. Alector had a negative return on equity of 77.15% and a negative net margin of 134.34%. The company had revenue of $15.19 million during the quarter, compared to analyst estimates of $8.35 million. On average, equities research analysts predict that Alector will post -1.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $41.00 price target on shares of Alector in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 18,837 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the completion of the sale, the chief executive officer now directly owns 2,000,380 shares of the company’s stock, valued at approximately $13,842,629.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gary Romano sold 6,001 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $41,526.92. Following the transaction, the insider now owns 196,313 shares in the company, valued at approximately $1,358,485.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 18,837 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the completion of the transaction, the chief executive officer now owns 2,000,380 shares in the company, valued at approximately $13,842,629.60. The disclosure for this sale can be found here. Insiders have sold a total of 30,554 shares of company stock valued at $211,434 over the last three months. Company insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Alector

Several hedge funds have recently added to or reduced their stakes in ALEC. FMR LLC boosted its holdings in Alector by 58.3% during the third quarter. FMR LLC now owns 12,172,045 shares of the company’s stock worth $78,875,000 after buying an additional 4,481,420 shares during the last quarter. Braidwell LP boosted its holdings in Alector by 342.2% during the first quarter. Braidwell LP now owns 3,206,315 shares of the company’s stock worth $19,847,000 after buying an additional 2,481,291 shares during the last quarter. Morgan Stanley boosted its holdings in Alector by 92.7% during the third quarter. Morgan Stanley now owns 3,337,386 shares of the company’s stock worth $21,626,000 after buying an additional 1,605,293 shares during the last quarter. State Street Corp boosted its holdings in Alector by 25.2% during the first quarter. State Street Corp now owns 3,836,093 shares of the company’s stock worth $54,664,000 after buying an additional 772,398 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Alector by 12.3% during the first quarter. Federated Hermes Inc. now owns 5,931,034 shares of the company’s stock worth $84,517,000 after buying an additional 650,187 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

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.