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

Alector, Inc. (NASDAQ:ALEC) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,470,000 shares, a growth of 10.6% from the March 15th total of 5,850,000 shares. Based on an average daily volume of 690,900 shares, the short-interest ratio is currently 9.4 days. Approximately 8.9% of the company’s shares are short sold.

Alector Price Performance

Shares of ALEC stock traded down $0.20 during trading hours on Tuesday, hitting $5.44. 39,023 shares of the company’s stock traded hands, compared to its average volume of 696,491. The stock’s 50 day simple moving average is $6.27 and its 200 day simple moving average is $6.23. Alector has a 12 month low of $3.66 and a 12 month high of $9.06.

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

Insider Buying and Selling

In related news, insider Gary Romano sold 6,001 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $41,526.92. Following the completion of the transaction, the insider now owns 196,313 shares in the company, valued at approximately $1,358,485.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Arnon Rosenthal sold 18,837 shares of the company’s stock in a transaction on 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 directly owns 2,000,380 shares of the company’s stock, valued at approximately $13,842,629.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gary Romano sold 6,001 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $41,526.92. Following the completion of the transaction, the insider now directly owns 196,313 shares of the company’s stock, valued at $1,358,485.96. The disclosure for this sale can be found here. Insiders sold 30,554 shares of company stock worth $211,434 in the last quarter. Insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Alector

Large investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Alector by 24.0% during the third quarter. Barclays PLC now owns 138,826 shares of the company’s stock worth $899,000 after acquiring an additional 26,856 shares in the last quarter. Euclidean Capital LLC grew its position in Alector by 33.3% in the 3rd quarter. Euclidean Capital LLC now owns 1,307,858 shares of the company’s stock worth $8,475,000 after purchasing an additional 326,964 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Alector by 33.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 778,077 shares of the company’s stock worth $5,042,000 after purchasing an additional 195,411 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Alector by 68.2% in the third quarter. Acadian Asset Management LLC now owns 153,266 shares of the company’s stock valued at $993,000 after acquiring an additional 62,155 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Alector by 64.8% in the third quarter. Hsbc Holdings PLC now owns 36,807 shares of the company’s stock valued at $241,000 after acquiring an additional 14,472 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $41.00 target price on shares of Alector in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

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.