Alector, Inc. (NASDAQ:ALEC) CEO Sells $120,648.00 in Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 25,135 shares of Alector stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $120,648.00. Following the transaction, the chief executive officer now directly owns 1,975,245 shares in the company, valued at approximately $9,481,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alector Trading Down 9.0 %

ALEC opened at $4.37 on Friday. The stock has a 50-day moving average price of $5.36 and a 200-day moving average price of $6.14. Alector, Inc. has a 12-month low of $3.66 and a 12-month high of $9.06. The stock has a market capitalization of $421.22 million, a P/E ratio of -3.17 and a beta of 0.77.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. The company had revenue of $15.89 million during the quarter, compared to analyst estimates of $14.63 million. On average, equities research analysts predict that Alector, Inc. will post -1.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Alector in the 1st quarter worth approximately $40,000. Lazard Asset Management LLC bought a new position in shares of Alector in the 1st quarter worth approximately $59,000. China Universal Asset Management Co. Ltd. raised its position in shares of Alector by 352.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after acquiring an additional 7,584 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Alector in the 4th quarter worth approximately $81,000. Finally, Jasper Ridge Partners L.P. bought a new position in shares of Alector in the 3rd quarter worth approximately $95,000. Institutional investors own 85.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALEC. HC Wainwright dropped their price target on Alector from $41.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.