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

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alector Stock Performance

NASDAQ:ALEC opened at $2.20 on Friday. The company has a 50-day moving average of $4.40 and a 200-day moving average of $4.90. Alector, Inc. has a 52 week low of $2.00 and a 52 week high of $8.90. The company has a market capitalization of $215.45 million, a price-to-earnings ratio of -1.29 and a beta of 0.51.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Alector

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its stake in Alector by 4.1% during the second quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after acquiring an additional 2,709 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of Alector by 2.8% during the 2nd 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Alector by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after purchasing an additional 3,790 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Alector by 7.5% in the second quarter. Los Angeles Capital Management LLC now owns 63,186 shares of the company’s stock valued at $287,000 after buying an additional 4,430 shares in the last quarter. Finally, Caxton Associates LP grew its stake in Alector by 41.3% during the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after buying an additional 5,933 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

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.