Key Points
- CEO Arnon Rosenthal sold 104,347 Alector shares on Dec. 3 at an average price of $1.12 for about $116,869, reducing his stake by 4.13% to 2,420,040 shares (≈$2.71M).
- Alector shares trade near $1.14 with a market cap of about $124M, a negative P/E and margins; the company reported Q3 EPS of -$0.34 (better than -$0.42 est.) and revenue of $3.26M (below estimates).
- Institutional investors own roughly 85.8% of the stock, and analysts collectively rate Alector as a “Reduce” (consensus target $3.40) after several downgrades.
Alector, Inc. (NASDAQ:ALEC - Get Free Report) CFO Neil Lindsay Berkley sold 37,261 shares of the company's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $41,732.32. Following the transaction, the chief financial officer owned 374,309 shares in the company, valued at $419,226.08. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Alector Stock Performance
Alector stock opened at $1.15 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a market capitalization of $124.98 million, a P/E ratio of -1.05 and a beta of 0.67. Alector, Inc. has a 1-year low of $0.87 and a 1-year high of $3.40. The company's 50-day moving average is $2.01 and its 200 day moving average is $1.94.
Alector (NASDAQ:ALEC - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.08. Alector had a negative return on equity of 123.02% and a negative net margin of 156.03%.The firm had revenue of $3.26 million for the quarter, compared to analysts' expectations of $3.49 million. Research analysts forecast that Alector, Inc. will post -1.88 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Alector by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 249,494 shares of the company's stock worth $307,000 after acquiring an additional 18,765 shares in the last quarter. Invesco Ltd. increased its position in shares of Alector by 209.6% during the first quarter. Invesco Ltd. now owns 148,576 shares of the company's stock worth $183,000 after purchasing an additional 100,591 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Alector during the 1st quarter valued at $170,000. Persistent Asset Partners Ltd acquired a new stake in shares of Alector in the 1st quarter worth $129,000. Finally, Walleye Capital LLC grew its stake in Alector by 108.3% during the 1st quarter. Walleye Capital LLC now owns 305,601 shares of the company's stock worth $376,000 after buying an additional 158,922 shares during the last quarter. Hedge funds and other institutional investors own 85.83% of the company's stock.
Analyst Ratings Changes
ALEC has been the topic of several research analyst reports. TD Cowen downgraded Alector from a "buy" rating to a "hold" rating in a research report on Wednesday, October 22nd. William Blair cut shares of Alector from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 22nd. Cowen downgraded shares of Alector to a "hold" rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald lowered shares of Alector from an "overweight" rating to a "neutral" rating in a report on Wednesday, October 22nd. Finally, Mizuho set a $1.50 target price on shares of Alector and gave the stock a "neutral" rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Alector has a consensus rating of "Reduce" and a consensus price target of $3.40.
Read Our Latest Stock Report on ALEC
Alector Company Profile
(
Get Free Report)
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.
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