Short Interest in Alector, Inc. (NASDAQ:ALEC) Expands By 25.1%

Alector, Inc. (NASDAQ:ALEC - Get Free Report) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 6,720,000 shares, an increase of 25.1% from the May 15th total of 5,370,000 shares. Based on an average daily trading volume, of 871,100 shares, the short-interest ratio is currently 7.7 days. Currently, 8.9% of the company's shares are sold short.

Alector Stock Up 0.7%

NASDAQ:ALEC opened at $1.52 on Wednesday. The company has a 50-day moving average of $1.23 and a 200 day moving average of $1.52. Alector has a 1-year low of $0.87 and a 1-year high of $6.78. The firm has a market cap of $151.98 million, a PE ratio of -1.21 and a beta of 0.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.34 and a quick ratio of 3.34.

Institutional Investors Weigh In On Alector

Several hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new stake in Alector during the fourth quarter worth $25,000. Tema Etfs LLC purchased a new stake in shares of Alector during the 4th quarter worth $27,000. Tower Research Capital LLC TRC lifted its stake in shares of Alector by 71.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock worth $28,000 after purchasing an additional 6,096 shares during the last quarter. CWM LLC lifted its stake in shares of Alector by 370.7% during the 1st quarter. CWM LLC now owns 33,643 shares of the company's stock worth $41,000 after purchasing an additional 26,495 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Alector by 127.3% during the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock worth $47,000 after purchasing an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 85.83% of the company's stock.

Analysts Set New Price Targets

ALEC has been the subject of a number of research reports. HC Wainwright boosted their price target on Alector from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th. Morgan Stanley reiterated an "underweight" rating and issued a $1.50 price target (down previously from $3.00) on shares of Alector in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Alector has an average rating of "Hold" and a consensus target price of $4.00.

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.

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