Insider Selling: Alector (NASDAQ:ALEC) CEO Sells $171,815.52 in Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 87,216 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $171,815.52. Following the completion of the transaction, the chief executive officer directly owned 2,367,206 shares of the company’s stock, valued at $4,663,395.82. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Alector Stock Down 9.7%

Shares of NASDAQ:ALEC opened at $1.64 on Friday. Alector, Inc. has a 52-week low of $1.09 and a 52-week high of $3.40. The firm has a market capitalization of $181.53 million, a P/E ratio of -1.37 and a beta of 0.61. The stock has a 50 day moving average price of $2.27 and a 200-day moving average price of $1.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.25 and a current ratio of 5.25.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.08. The company had revenue of $1.05 million for the quarter, compared to the consensus estimate of $9.67 million. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%. As a group, equities research analysts anticipate that Alector, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Trading of Alector

Institutional investors have recently added to or reduced their stakes in the business. Elmind Capital LP purchased a new stake in Alector during the 4th quarter valued at $1,404,000. Foresite Capital Management IV LLC purchased a new stake in Alector during the 4th quarter valued at $6,064,000. Spruce Street Capital LP purchased a new stake in Alector during the 4th quarter valued at $1,744,000. Lexington Partners L.P. boosted its stake in Alector by 429.2% during the 4th quarter. Lexington Partners L.P. now owns 53,488 shares of the company’s stock valued at $83,000 after purchasing an additional 43,380 shares during the last quarter. Finally, Hershey Trust Co. boosted its stake in Alector by 100.0% during the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock valued at $32,000 after purchasing an additional 10,286 shares during the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BTIG Research upgraded Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Tuesday, March 10th. Morgan Stanley restated an “underweight” rating and issued a $2.00 price target on shares of Alector in a research note on Monday, May 4th. Cantor Fitzgerald upgraded Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.63.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.