Key Points
- Alector CEO Arnon Rosenthal sold 87,216 shares on June 2 at an average price of $1.97, for proceeds of about $171,816. After the sale, he still owned 2.37 million shares.
- ALEC shares fell 9.0% and opened at $1.78, near the company’s 200-day moving average of $1.94 and within its 1-year range of $1.09 to $3.40.
- Recent earnings showed mixed results: Alector beat EPS expectations with a loss of $0.21 per share, but revenue of $1.05 million fell well short of estimates. Analysts currently rate the stock a consensus Hold with a $3.63 price target.
Alector, Inc. (NASDAQ:ALEC - Get Free Report) insider Grace Wong-Sarad sold 5,709 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $11,246.73. Following the completion of the transaction, the insider owned 98,936 shares in the company, valued at $194,903.92. This represents a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Grace Wong-Sarad also recently made the following trade(s):
- On Wednesday, June 3rd, Grace Wong-Sarad sold 3,475 shares of Alector stock. The stock was sold at an average price of $1.88, for a total transaction of $6,533.00.
- On Thursday, April 16th, Grace Wong-Sarad sold 1,820 shares of Alector stock. The stock was sold at an average price of $2.65, for a total transaction of $4,823.00.
- On Tuesday, March 10th, Grace Wong-Sarad sold 1,000 shares of Alector stock. The stock was sold at an average price of $2.65, for a total transaction of $2,650.00.
Alector Stock Down 9.0%
Shares of Alector stock opened at $1.78 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.25 and a current ratio of 5.25. Alector, Inc. has a 52-week low of $1.09 and a 52-week high of $3.40. The stock has a market capitalization of $197.08 million, a price-to-earnings ratio of -1.49 and a beta of 0.61. The company's 50 day moving average price is $2.29 and its 200-day moving average price is $1.94.
Alector (NASDAQ:ALEC - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.08. The firm had revenue of $1.05 million for the quarter, compared to analysts' expectations of $9.67 million. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. Equities research analysts forecast that Alector, Inc. will post -0.86 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on ALEC shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alector in a report on Monday, May 4th. Cantor Fitzgerald upgraded shares of Alector from a "neutral" rating to an "overweight" rating in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Alector from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Morgan Stanley reiterated an "underweight" rating and issued a $2.00 price target on shares of Alector in a report on Monday, May 4th. Finally, BTIG Research upgraded shares of Alector from a "neutral" rating to a "buy" rating and set a $6.00 price target on the stock in a report on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $3.63.
View Our Latest Research Report on Alector
Institutional Investors Weigh In On Alector
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Alector by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 343,909 shares of the company's stock worth $481,000 after purchasing an additional 5,927 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Alector by 3.4% in the 3rd quarter. Mackenzie Financial Corp now owns 283,712 shares of the company's stock worth $840,000 after purchasing an additional 9,270 shares in the last quarter. Lexington Partners L.P. bought a new position in Alector in the 3rd quarter worth about $30,000. Hershey Trust Co. boosted 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 purchasing an additional 10,286 shares in the last quarter. Finally, Jane Street Group LLC boosted 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 purchasing an additional 11,618 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.
About Alector
(
Get Free Report)
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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