Arnon Rosenthal Sells 72,606 Shares of Alector (NASDAQ:ALEC) Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 72,606 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total value of $193,131.96. Following the completion of the transaction, the chief executive officer owned 2,294,600 shares of the company’s stock, valued at $6,103,636. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alector Trading Down 2.0%

NASDAQ:ALEC traded down $0.05 on Friday, reaching $2.46. The company’s stock had a trading volume of 496,599 shares, compared to its average volume of 882,288. Alector, Inc. has a 12-month low of $1.09 and a 12-month high of $3.40. The stock has a 50 day moving average price of $1.89 and a 200 day moving average price of $2.05. The firm has a market cap of $274.68 million, a price-to-earnings ratio of -2.24 and a beta of 0.65. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.80.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The business had revenue of $3.32 million during the quarter, compared to analysts’ expectations of $1.71 million. Alector had a negative return on equity of 531.03% and a negative net margin of 850.13%. On average, equities analysts anticipate that Alector, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALEC shares. Weiss Ratings upgraded shares of Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.62.

Institutional Investors Weigh In On Alector

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Alector by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock worth $481,000 after buying an additional 5,927 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Alector by 3.4% in the third quarter. Mackenzie Financial Corp now owns 283,712 shares of the company’s stock worth $840,000 after acquiring an additional 9,270 shares in the last quarter. Hershey Trust Co. increased its position in shares of Alector by 100.0% during the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after acquiring an additional 10,286 shares during the period. Jane Street Group LLC increased its position in shares of Alector by 4.7% during the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock worth $316,000 after acquiring an additional 11,618 shares during the period. Finally, Diversified Trust Co raised its stake in shares of Alector by 83.6% in the first quarter. Diversified Trust Co now owns 25,895 shares of the company’s stock valued at $56,000 after acquiring an additional 11,793 shares in 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.