Alector, Inc. (NASDAQ:ALEC) Short Interest Up 35.9% in December

Alector, Inc. (NASDAQ:ALEC) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totaling 6,319,929 shares, a growth of 35.9% from the November 30th total of 4,651,197 shares. Based on an average daily trading volume, of 1,976,117 shares, the days-to-cover ratio is presently 3.2 days. Currently, 6.4% of the company’s stock are sold short. Currently, 6.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,976,117 shares, the days-to-cover ratio is presently 3.2 days.

Alector Stock Performance

Shares of ALEC opened at $1.52 on Wednesday. Alector has a 52-week low of $0.87 and a 52-week high of $3.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.76 and a current ratio of 3.76. The business’s fifty day moving average is $1.36 and its 200-day moving average is $1.94. The firm has a market cap of $165.91 million, a price-to-earnings ratio of -1.42 and a beta of 0.67.

Alector (NASDAQ:ALEC) last posted its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.08. Alector had a negative net margin of 156.03% and a negative return on equity of 123.02%. The firm had revenue of $3.26 million for the quarter, compared to analyst estimates of $3.49 million. Equities analysts anticipate that Alector will post -1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

ALEC has been the subject of a number of analyst reports. Cantor Fitzgerald lowered shares of Alector from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut Alector from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. BTIG Research downgraded Alector from a “buy” rating to a “neutral” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a research report on Wednesday, October 8th. Finally, HC Wainwright decreased their target price on shares of Alector from $10.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Alector presently has an average rating of “Reduce” and a consensus target price of $3.25.

Insider Buying and Selling

In other news, CFO Neil Lindsay Berkley sold 37,261 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $41,732.32. Following the transaction, the chief financial officer owned 374,309 shares in the company, valued at approximately $419,226.08. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Kenkare-Mitra sold 41,687 shares of Alector stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $46,689.44. Following the completion of the transaction, the insider directly owned 501,652 shares in the company, valued at approximately $561,850.24. This represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 196,104 shares of company stock worth $220,064. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alector

Several large investors have recently bought and sold shares of the stock. Lexington Partners L.P. purchased a new stake in Alector during the 3rd quarter worth about $30,000. Pinegrove Venture Partners LLC purchased a new position in Alector during the third quarter valued at approximately $30,000. Belvedere Trading LLC bought a new stake in Alector during the 3rd quarter worth approximately $31,000. HBK Sorce Advisory LLC purchased a new position in shares of Alector during the 3rd quarter valued at $34,000. Finally, Savant Capital LLC bought a new position in shares of Alector in the third quarter worth $35,000. 85.83% of the stock is currently owned by institutional investors.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.