Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal Sells 52,172 Shares of 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link.

Alector Stock Performance

Shares of ALEC opened at $2.52 on Wednesday. The stock has a 50 day simple moving average of $4.51 and a 200 day simple moving average of $4.94. Alector, Inc. has a 52-week low of $2.37 and a 52-week high of $8.90. The firm has a market capitalization of $246.78 million, a PE ratio of -1.48 and a beta of 0.51.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate 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%. Equities research analysts predict that Alector, Inc. will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Alector

A number of institutional investors and hedge funds have recently made changes to their positions in ALEC. Vanguard Group Inc. raised its stake in shares of Alector by 12.0% during the 1st 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. Lazard Asset Management LLC bought a new stake in Alector in the 1st quarter valued at $59,000. SG Americas Securities LLC bought a new stake in Alector in the 2nd quarter valued at $291,000. Gladius Capital Management LP bought a new stake in Alector in the 2nd quarter valued at $29,000. Finally, Bank of New York Mellon Corp raised its stake in Alector by 21.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,938 shares of the company’s stock valued at $1,271,000 after acquiring an additional 49,625 shares during the period. Institutional investors own 85.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALEC shares. BTIG Research decreased their target price on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. HC Wainwright decreased their target price on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $10.00 to $3.00 in a research report on Tuesday, November 26th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.40.

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.