Key Points
- Alector CFO Neil Berkley sold 29,251 shares at an average price of $2.66, generating approximately $77,808. Following the transaction, his holdings fell 7.7% to 350,649 shares.
- Alector reported quarterly revenue of $3.32 million and an adjusted loss of $0.21 per share, exceeding analyst estimates of $1.71 million in revenue and a $0.23-per-share loss.
- The stock opened at $2.46, while analysts maintain a consensus “Hold” rating with a $3.62 price target; institutional investors own 85.83% of the company.
Alector, Inc. (NASDAQ:ALEC - Get Free Report) insider Grace Wong-Sarad sold 5,165 shares of Alector stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.67, for a total transaction of $13,790.55. Following the completion of the transaction, the insider directly owned 109,640 shares in the company, valued at $292,738.80. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Grace Wong-Sarad also recently made the following trade(s):
- On Friday, September 4th, Grace Wong-Sarad sold 3,625 shares of Alector stock. The stock was sold at an average price of $2.51, for a total value of $9,098.75.
- On Wednesday, September 2nd, Grace Wong-Sarad sold 656 shares of Alector stock. The shares were sold at an average price of $2.75, for a total transaction of $1,804.00.
Alector Stock Down 2.0%
Alector stock opened at $2.46 on Friday. The business's 50-day simple moving average is $1.91 and its two-hundred day simple moving average is $2.06. The company has a market cap of $274.68 million, a PE ratio of -2.24 and a beta of 0.65. Alector, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26.
Alector (NASDAQ:ALEC - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.02. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. The company had revenue of $3.32 million during the quarter, compared to analyst estimates of $1.71 million. Equities analysts anticipate that Alector, Inc. will post -0.87 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ALEC. Wall Street Zen upgraded shares of Alector from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings raised Alector from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $3.62.
View Our Latest Stock Report on ALEC
Institutional Investors Weigh In On Alector
A number of institutional investors and hedge funds have recently made changes to their positions in ALEC. BlackRock Inc. acquired a new stake in shares of Alector during the second quarter worth about $15,774,000. Nantahala Capital Management LLC purchased a new stake in Alector during the 2nd quarter worth approximately $8,679,399. Foresite Capital Management IV LLC purchased a new stake in Alector during the 4th quarter worth approximately $6,064,000. Merck & Co. Inc. acquired a new stake in Alector during the 2nd quarter worth approximately $7,126,896. Finally, Balyasny Asset Management L.P. purchased a new position in Alector in the 4th quarter valued at approximately $5,094,000. 85.83% of the stock is owned by hedge funds and other institutional investors.
Alector Company Profile
(
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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