Alector (NASDAQ:ALEC) CFO Sells $38,139.20 in Stock

Alector, Inc. (NASDAQ:ALEC) CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $38,139.20. Following the completion of the transaction, the chief financial officer owned 379,900 shares in the company, valued at approximately $748,403. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Alector Trading Down 9.7%

NASDAQ:ALEC opened at $1.64 on Friday. 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 one year low of $1.09 and a one year high of $3.40. The business’s 50-day simple moving average is $2.27 and its 200 day simple moving average is $1.94. The stock has a market cap of $181.53 million, a price-to-earnings ratio of -1.37 and a beta of 0.61.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.08. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%.The business had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $9.67 million. As a group, sell-side analysts predict that Alector, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Trading of Alector

Institutional investors and hedge funds have recently bought and sold shares of the company. Lexington Partners L.P. acquired a new stake in Alector during the third quarter valued at approximately $30,000. Bronte Capital Management Pty Ltd. acquired a new stake in Alector during the fourth quarter valued at approximately $30,000. Prudential Financial Inc. acquired a new stake in Alector during the second quarter valued at approximately $30,000. Hershey Trust Co. raised its stake in Alector by 100.0% during the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock valued at $32,000 after buying an additional 10,286 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Alector during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ALEC has been the topic of several recent analyst reports. Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target on shares of Alector in a research note on Monday, May 4th. BTIG Research upgraded Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Tuesday, March 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. Finally, Cantor Fitzgerald upgraded Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.63.

About Alector

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.