Alector Inc (ALEC) Short Interest Update

Alector Inc (NASDAQ:ALEC) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,037,210 shares, an increase of 74.9% from the February 28th total of 1,164,492 shares. Currently, 4.9% of the shares of the company are sold short. Based on an average trading volume of 482,550 shares, the days-to-cover ratio is presently 4.2 days.

In other Alector news, Director Orbimed Advisors Llc bought 411,700 shares of the stock in a transaction that occurred on Monday, February 11th. The shares were purchased at an average cost of $19.00 per share, for a total transaction of $7,822,300.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 34.40% of the stock is owned by company insiders.

Shares of ALEC traded up $0.94 during trading hours on Friday, hitting $22.47. 155,537 shares of the company were exchanged, compared to its average volume of 260,480. The firm has a market cap of $1.55 billion and a PE ratio of -4.86. Alector has a one year low of $15.16 and a one year high of $27.00.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($1.48) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($1.19). The firm had revenue of $9.15 million during the quarter. On average, equities research analysts expect that Alector will post -1.35 EPS for the current fiscal year.

A number of brokerages have issued reports on ALEC. Svb Leerink began coverage on Alector in a research note on Monday, March 4th. They set an “outperform” rating for the company. Cowen began coverage on Alector in a research note on Monday, March 4th. They set an “outperform” rating for the company. Morgan Stanley began coverage on Alector in a research note on Monday, March 4th. They set an “overweight” rating and a $27.00 price target for the company. Leerink Swann initiated coverage on Alector in a research note on Monday, March 4th. They set an “outperform” rating for the company. Finally, Bank of America initiated coverage on Alector in a research note on Monday, March 4th. They set a “buy” rating and a $26.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, Alector currently has a consensus rating of “Buy” and an average price target of $26.67.

ILLEGAL ACTIVITY NOTICE: “Alector Inc (ALEC) Short Interest Update” was originally published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.baseballdailydigest.com/news/2019/04/21/short-interest-in-alector-inc-alec-expands-by-74-9.html.

About Alector

Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.

Featured Story: Cost of equity and a company’s balance sheet

Receive News & Ratings for Alector Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alector and related companies with MarketBeat.com's FREE daily email newsletter.