Alector (NASDAQ:ALEC) CEO Arnon Rosenthal Sells 104,347 Shares of Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 104,347 shares of Alector stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total value of $116,868.64. Following the sale, the chief executive officer directly owned 2,420,040 shares of the company’s stock, valued at approximately $2,710,444.80. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Alector Price Performance

Shares of ALEC stock opened at $1.14 on Thursday. Alector, Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $3.40. The firm has a market capitalization of $124.43 million, a PE ratio of -1.07 and a beta of 0.67. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.76 and a current ratio of 3.76. The stock’s 50-day simple moving average is $2.01 and its 200-day simple moving average is $1.94.

Alector (NASDAQ:ALEC) last released its earnings results on Thursday, November 6th. The company reported ($0.34) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.49 million. Equities analysts expect that Alector, Inc. will post -1.88 earnings per share for the current year.

Institutional Trading of Alector

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC raised its stake in shares of Alector by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock worth $28,000 after buying an additional 10,000 shares during the period. Pinegrove Venture Partners LLC purchased a new stake in Alector in the 3rd quarter worth $30,000. Lexington Partners L.P. acquired a new position in Alector during the third quarter worth $30,000. Prudential Financial Inc. acquired a new position in Alector during the second quarter worth $30,000. Finally, Belvedere Trading LLC purchased a new position in Alector during the third quarter valued at $31,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALEC. HC Wainwright reduced their target price on shares of Alector from $10.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. William Blair lowered Alector from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 22nd. Mizuho set a $1.50 price objective on Alector and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Cantor Fitzgerald lowered Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 22nd. Finally, Cowen cut Alector to a “hold” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $3.40.

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.