Alector, Inc. (NASDAQ:ALEC) Short Interest Up 14.3% in July

Alector, Inc. (NASDAQ:ALEC) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,890,000 shares, an increase of 14.3% from the June 30th total of 4,280,000 shares. Currently, 6.5% of the company’s shares are sold short. Based on an average trading volume of 644,700 shares, the days-to-cover ratio is presently 7.6 days.

Alector Stock Performance

Shares of ALEC opened at $6.26 on Wednesday. The stock has a market capitalization of $603.37 million, a PE ratio of -4.54 and a beta of 0.73. Alector has a 1 year low of $3.66 and a 1 year high of $9.06. The company’s 50-day simple moving average is $5.06 and its 200-day simple moving average is $5.66.

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

Analyst Ratings Changes

A number of research firms have commented on ALEC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Alector in a research report on Thursday, June 20th. One research 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. Based on data from MarketBeat.com, Alector currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Insider Activity

In other news, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the transaction, the chief executive officer now owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alector news, CFO Marc Grasso sold 6,920 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $33,216.00. Following 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 Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 25,135 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the transaction, the chief executive officer now directly owns 1,975,245 shares in the company, valued at approximately $9,481,176. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,095 shares of company stock valued at $192,456. 9.10% of the stock is currently owned by insiders.

Institutional Trading of Alector

Large investors have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Alector during the second quarter worth approximately $29,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alector during the first quarter worth approximately $40,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Alector by 352.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after buying an additional 7,584 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Alector during the first quarter worth approximately $59,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Alector during the fourth quarter worth approximately $81,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

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.