Alector (NASDAQ:ALEC) Trading 3.6% Higher

Alector, Inc. (NASDAQ:ALEC) shares rose 3.6% during trading on Tuesday . The stock traded as high as $5.47 and last traded at $5.46. Approximately 120,762 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 625,220 shares. The stock had previously closed at $5.27.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Alector in a report on Thursday, June 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Monday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Alector presently has an average rating of “Moderate Buy” and an average price target of $14.67.

Alector Trading Up 9.5 %

The firm’s 50 day moving average price is $5.33 and its two-hundred day moving average price is $5.43. The company has a market capitalization of $556.14 million, a price-to-earnings ratio of -4.05 and a beta of 0.68.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.02 earnings per share. As a group, equities research analysts predict that Alector, Inc. will post -1.92 EPS for the current year.

Insider Activity at Alector

In related news, insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the completion of the sale, the insider now owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, the insider now owns 291,715 shares in the company, valued at $1,423,569.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paula Hammond sold 10,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the sale, the director now owns 60,209 shares of the company’s stock, valued at $304,657.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,222 shares of company stock worth $286,013. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Alector

Institutional investors and hedge funds have recently modified their holdings of the business. Algert Global LLC acquired a new position in Alector in the 2nd quarter valued at $198,000. Susquehanna Fundamental Investments LLC increased its position in shares of Alector by 2.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after purchasing an additional 3,500 shares during the period. The Manufacturers Life Insurance Company raised its stake in Alector by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 124,819 shares of the company’s stock valued at $567,000 after purchasing an additional 6,825 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Alector by 7.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock worth $5,213,000 after acquiring an additional 75,481 shares during the period. Finally, Caxton Associates LP boosted its position 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 acquiring an additional 5,933 shares in the last quarter. 85.83% of the stock is currently 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.