Alector (NASDAQ:ALEC) Shares Down 5.6%

Alector, Inc. (NASDAQ:ALEC)’s share price fell 5.6% during mid-day trading on Monday . The stock traded as low as $5.43 and last traded at $5.43. 139,133 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 631,049 shares. The stock had previously closed at $5.75.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Alector Trading Down 5.2 %

The business’s fifty day moving average price is $5.51 and its 200 day moving average price is $5.36. The company has a market capitalization of $525.30 million, a P/E ratio of -3.97 and a beta of 0.68.

Alector (NASDAQ:ALEC) last posted its earnings results on Wednesday, August 7th. The company reported ($0.40) EPS 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 during the quarter, compared to the consensus estimate of $16.04 million. During the same quarter last year, the company earned $0.02 EPS. Equities research analysts anticipate that Alector, Inc. will post -1.92 EPS for the current year.

Insider Transactions at Alector

In other news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction 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 in the company, valued at $9,509,880.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at approximately $638,011.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,222 shares of company stock valued at $286,013. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALEC. Gladius Capital Management LP acquired a new stake in Alector during the 2nd quarter worth $29,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alector during the first quarter worth $40,000. Lazard Asset Management LLC bought a new stake in Alector in the first quarter valued at about $59,000. China Universal Asset Management Co. Ltd. lifted its stake in Alector by 89.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after buying an additional 8,670 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after buying an additional 3,827 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

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.