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

by · The Markets Daily

Alector, Inc. (NASDAQ:ALEC – Get Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 3,470,000 shares, a drop of 5.7% from the August 15th total of 3,680,000 shares. Based on an average daily volume of 576,200 shares, the short-interest ratio is currently 6.0 days. Approximately 4.6% of the company’s stock are short sold.

Alector Trading Down 0.7 %

Shares of NASDAQ ALEC opened at $5.64 on Wednesday. Alector has a 12 month low of $3.66 and a 12 month high of $8.90. The company has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $5.38. The stock has a market cap of $543.61 million, a price-to-earnings ratio of -4.09 and a beta of 0.68.

Alector (NASDAQ:ALEC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, beating 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 period in the previous year, the business posted $0.02 EPS. Analysts forecast that Alector will post -1.92 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALEC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Read Our Latest Report on Alector

Insider Buying and Selling at Alector

In other Alector news, Director Paula Hammond sold 10,500 shares of the firm’s 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 transaction, the director now owns 60,209 shares of the company’s stock, valued at approximately $304,657.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the transaction, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paula Hammond sold 10,500 shares of Alector stock in a transaction that occurred on Monday, August 12th. The stock was 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 in the company, valued at approximately $304,657.54. 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. Company insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

Institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC lifted its stake in shares of Alector by 73.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock valued at $419,000 after purchasing an additional 38,947 shares during the period. Algert Global LLC acquired a new position in shares of Alector in the 2nd quarter valued at $198,000. Susquehanna Fundamental Investments LLC lifted its stake in shares of Alector by 2.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock valued at $589,000 after purchasing an additional 3,500 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Alector by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,819 shares of the company’s stock valued at $567,000 after purchasing an additional 6,825 shares during the period. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of Alector by 7.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock valued at $5,213,000 after purchasing an additional 75,481 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Company Profile

(Get Free Report)

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.

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