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

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the transaction, the chief executive officer now directly owns 2,507,074 shares of the company’s stock, valued at $6,317,826.48. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alector Stock Up 0.5 %

ALEC stock opened at $2.20 on Friday. Alector, Inc. has a twelve month low of $2.00 and a twelve month high of $8.90. The business’s fifty day moving average is $4.40 and its 200-day moving average is $4.90. The company has a market cap of $215.45 million, a P/E ratio of -1.29 and a beta of 0.51.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Alector by 12.0% during the first quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after purchasing an additional 526,037 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Alector by 73.1% during the second quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock worth $419,000 after acquiring an additional 38,947 shares in the last quarter. Creative Planning grew its stake in Alector by 54.2% in the third quarter. Creative Planning now owns 19,117 shares of the company’s stock valued at $89,000 after acquiring an additional 6,723 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Alector by 32.8% in the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock worth $2,681,000 after acquiring an additional 146,015 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Alector by 61.7% during the second quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock worth $1,613,000 after purchasing an additional 135,614 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALEC. HC Wainwright dropped their target price on shares of Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Morgan Stanley downgraded Alector from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $3.00 in a report on Tuesday, November 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. BTIG Research cut their price target on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $9.00 to $1.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.17.

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.