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

Alector, Inc. (NASDAQ:ALEC – Get Free Report) CEO Arnon Rosenthal sold 72,606 shares of the company’s stock in a transaction dated 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 directly owned 2,294,600 shares of the company’s stock, valued at approximately $6,103,636. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Alector Stock Down 2.0%

Shares of ALEC opened at $2.46 on Friday. The business’s 50 day moving average is $1.91 and its 200 day moving average is $2.06. The company has a market capitalization of $274.68 million, a PE ratio of -2.24 and a beta of 0.65. Alector, Inc. has a 12-month low of $1.09 and a 12-month high of $3.40. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.80.

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

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Alector by 1.8% during the second quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock valued at $481,000 after purchasing an additional 5,927 shares during the period. Mackenzie Financial Corp grew its holdings 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 purchasing an additional 9,270 shares during the last quarter. Hershey Trust Co. increased its stake in Alector by 100.0% in the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after buying an additional 10,286 shares during the period. Jane Street Group LLC increased its stake in Alector by 4.7% in the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock worth $316,000 after buying an additional 11,618 shares during the period. Finally, Diversified Trust Co lifted its holdings in Alector by 83.6% during the 1st quarter. Diversified Trust Co now owns 25,895 shares of the company’s stock valued at $56,000 after buying an additional 11,793 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Analyst Ratings Changes

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

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Alector Company Profile

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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.

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