Alector, Inc. (NASDAQ:ALEC) CEO Sells $131,473.44 in Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 52,172 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 directly owns 2,507,074 shares of the company’s stock, valued at approximately $6,317,826.48. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alector Trading Up 0.4 %

Alector stock traded up $0.01 during midday trading on Tuesday, reaching $2.52. The company’s stock had a trading volume of 1,627,868 shares, compared to its average volume of 1,512,084. Alector, Inc. has a 52-week low of $2.37 and a 52-week high of $8.90. The stock’s 50-day simple moving average is $4.56 and its 200-day simple moving average is $4.96.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The firm had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. On average, research analysts anticipate that Alector, Inc. will post -1.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALEC shares. Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $10.00 to $3.00 in a report on Tuesday, November 26th. HC Wainwright reduced their price target on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research report on Friday. BTIG Research dropped their price objective on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.40.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALEC. Gladius Capital Management LP acquired a new position in Alector in the 2nd quarter worth approximately $29,000. Point72 DIFC Ltd purchased a new position in shares of Alector during the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alector during the third quarter valued at $40,000. nVerses Capital LLC purchased a new stake in Alector in the third quarter valued at $51,000. Finally, Lazard Asset Management LLC acquired a new stake in Alector during the 1st quarter worth about $59,000. 85.83% of the stock is owned by institutional investors and hedge funds.

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.