Grace Wong-Sarad Sells 5,709 Shares of Alector (NASDAQ:ALEC) Stock

Alector, Inc. (NASDAQ:ALEC) insider Grace Wong-Sarad sold 5,709 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $11,246.73. Following the transaction, the insider directly owned 98,936 shares of the company’s stock, valued at $194,903.92. The trade was a 5.46% 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 this link.

Grace Wong-Sarad also recently made the following trade(s):

• On Wednesday, June 3rd, Grace Wong-Sarad sold 3,475 shares of Alector stock. The shares were sold at an average price of $1.88, for a total transaction of $6,533.00.
• On Thursday, April 16th, Grace Wong-Sarad sold 1,820 shares of Alector stock. The shares were sold at an average price of $2.65, for a total transaction of $4,823.00.
• On Tuesday, March 10th, Grace Wong-Sarad sold 1,000 shares of Alector stock. The stock was sold at an average price of $2.65, for a total transaction of $2,650.00.

Alector Stock Performance

ALEC opened at $1.81 on Friday. The firm has a market cap of $200.96 million, a P/E ratio of -1.52 and a beta of 0.61. Alector, Inc. has a 1-year low of $1.09 and a 1-year high of $3.40. The company has a 50 day simple moving average of $2.28 and a two-hundred day simple moving average of $1.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.25 and a quick ratio of 5.25.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 680.83% and a negative return on equity of 295.17%. Equities analysts forecast that Alector, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALEC. BTIG Research raised shares of 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 reaffirmed an “underweight” rating and set a $2.00 price target on shares of Alector in a research note on Monday, May 4th. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Alector currently has a consensus rating of “Hold” and a consensus price target of $3.63.

Institutional Trading of Alector

Several hedge funds have recently modified their holdings of ALEC. Vanguard Group Inc. raised its position in shares of Alector by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock valued at $17,863,000 after purchasing an additional 46,955 shares during the last quarter. Foresite Capital Management IV LLC purchased a new position in shares of Alector in the 4th quarter valued at approximately $6,064,000. 683 Capital Management LLC raised its position in shares of Alector by 235.0% in the 4th quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock valued at $5,226,000 after purchasing an additional 2,350,000 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Alector in the 4th quarter valued at approximately $5,094,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Alector by 76.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock valued at $3,390,000 after purchasing an additional 942,228 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

Alector Company Profile

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.