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

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

Insider Transactions at Alector

In related news, CEO Arnon Rosenthal sold 26,499 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares of the company's stock, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Marc Grasso sold 7,297 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now directly owns 1,948,746 shares of the company's stock, valued at approximately $9,509,880.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock worth $286,013 in the last three months. Company insiders own 9.10% of the company's stock.

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning grew its holdings in Alector by 54.2% during the 3rd quarter. Creative Planning now owns 19,117 shares of the company's stock worth $89,000 after acquiring an additional 6,723 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Alector by 73.1% in the second quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company's stock worth $419,000 after purchasing an additional 38,947 shares in the last quarter. Algert Global LLC bought a new stake in Alector in the second quarter valued at about $198,000. Susquehanna Fundamental Investments LLC raised its stake in Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company's stock valued at $589,000 after buying an additional 3,500 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Alector by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 124,819 shares of the company's stock valued at $567,000 after buying an additional 6,825 shares in the last quarter. Institutional investors own 85.83% of the company's stock.

Alector Price Performance

Alector stock traded up $0.10 during midday trading on Monday, hitting $4.90. 287,495 shares of the stock were exchanged, compared to its average volume of 623,672. The company has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $5.21. The firm has a market cap of $472.29 million, a P/E ratio of -3.46 and a beta of 0.68. Alector has a 1 year low of $3.66 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same quarter last year, the firm earned $0.02 EPS. As a group, analysts predict that Alector will post -1.92 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Alector in a research report on Tuesday, September 17th. 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alector currently has a consensus rating of "Buy" and a consensus target price of $17.75.

Alector Company Profile

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.