Alector, Inc. (NASDAQ:ALEC) Insider Sells $67,958.88 in Stock

Alector, Inc. (NASDAQ:ALEC) insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the sale, the insider now owns 291,715 shares in the company, valued at approximately $1,423,569.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alector Stock Up 7.3 %

Alector stock opened at $4.85 on Friday. The firm has a market capitalization of $467.47 million, a PE ratio of -3.51 and a beta of 0.68. Alector, Inc. has a 52 week low of $3.66 and a 52 week high of $8.90. The firm’s 50-day simple moving average is $5.31 and its 200 day simple moving average is $5.46.

Alector (NASDAQ:ALEC) last posted its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same quarter in the prior year, the company earned $0.02 EPS. On average, research analysts expect that Alector, Inc. will post -1.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Monday, July 29th. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Alector in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.67.

Hedge Funds Weigh In On Alector

A number of institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP purchased a new stake in Alector during the 2nd quarter worth about $29,000. Allspring Global Investments Holdings LLC acquired a new stake in Alector during the first quarter worth approximately $40,000. Lazard Asset Management LLC purchased a new stake in Alector in the 1st quarter worth approximately $59,000. E Fund Management Co. Ltd. acquired a new position in Alector in the 4th quarter valued at $81,000. Finally, Caxton Associates LP lifted its stake in shares of Alector by 41.3% during the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after purchasing an additional 5,933 shares during the period. 85.83% of the stock is owned by institutional investors and hedge funds.

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.