Alector (NASDAQ:ALEC) Stock Price Up 9%

Alector, Inc. (NASDAQ:ALEC) was up 9% during trading on Thursday . The stock traded as high as $6.19 and last traded at $6.15. Approximately 486,905 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 626,811 shares. The stock had previously closed at $5.64.

Analysts Set New Price Targets

ALEC has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Alector Stock Up 8.9 %

The stock has a market capitalization of $591.80 million, a price-to-earnings ratio of -4.40 and a beta of 0.68. The business’s 50-day moving average is $5.49 and its two-hundred day moving average is $5.38.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. During the same period in the previous year, the firm posted $0.02 EPS. As a group, analysts forecast that Alector, Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling at Alector

In other Alector news, Director Paula Hammond sold 10,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the sale, the director now directly owns 60,209 shares of the company’s stock, valued at approximately $304,657.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Paula Hammond sold 10,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the sale, the director now owns 60,209 shares of the company’s stock, valued at approximately $304,657.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock worth $286,013 in the last three months. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alector

Several large investors have recently modified their holdings of ALEC. Gladius Capital Management LP acquired a new stake in shares of Alector during the 2nd quarter worth about $29,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alector during the first quarter valued at about $40,000. Lazard Asset Management LLC acquired a new stake in shares of Alector during the first quarter valued at about $59,000. Caxton Associates LP raised its stake in shares of Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after acquiring an additional 5,933 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Alector by 89.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock worth $111,000 after acquiring an additional 8,670 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

About Alector

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.