Alector, Inc. (NASDAQ:ALEC) Short Interest Up 34.1% in November

Alector, Inc. (NASDAQ:ALEC) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 5,390,000 shares, an increase of 34.1% from the November 15th total of 4,020,000 shares. Currently, 7.1% of the shares of the stock are sold short. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 5.3 days.

Insiders Place Their Bets

In other Alector news, CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of the sale, the chief executive officer now owns 2,507,074 shares of the company’s stock, valued at approximately $6,317,826.48. The trade was a 2.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $66,780.00. Following the completion of the sale, the insider now owns 565,215 shares in the company, valued at approximately $1,424,341.80. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,161 shares of company stock valued at $239,806. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Alector

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in Alector by 4.1% during the second quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after purchasing an additional 2,709 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Alector by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after purchasing an additional 3,790 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Alector by 7.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 63,186 shares of the company’s stock worth $287,000 after purchasing an additional 4,430 shares in the last quarter. Finally, Caxton Associates LP lifted its stake in Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after purchasing an additional 5,933 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Stock Down 5.4 %

Shares of NASDAQ ALEC traded down $0.11 during midday trading on Friday, reaching $1.93. The company’s stock had a trading volume of 729,420 shares, compared to its average volume of 736,989. Alector has a fifty-two week low of $1.92 and a fifty-two week high of $8.90. The business’s 50 day moving average price is $4.16 and its two-hundred day moving average price is $4.79.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The company had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. On average, equities research analysts expect that Alector will post -1.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. BTIG Research decreased their target price on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. HC Wainwright cut their target price on shares of Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Morgan Stanley cut Alector from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $3.00 in a report on Tuesday, November 26th. Finally, Bank of America cut Alector from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.20.

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.