Alector (NASDAQ:ALEC) CEO Arnon Rosenthal Sells 87,216 Shares of Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $171,815.52. Following the completion of the sale, the chief executive officer directly owned 2,367,206 shares of the company’s stock, valued at $4,663,395.82. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Alector Stock Down 9.0%

Shares of NASDAQ ALEC opened at $1.78 on Thursday. The business has a 50-day moving average price of $2.29 and a 200 day moving average price of $1.94. The stock has a market cap of $197.08 million, a PE ratio of -1.49 and a beta of 0.61. The company has a quick ratio of 5.25, a current ratio of 5.25 and a debt-to-equity ratio of 0.80. Alector, Inc. has a 52-week low of $1.09 and a 52-week high of $3.40.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. The company had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $9.67 million. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%. Equities research analysts forecast that Alector, Inc. will post -0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALEC. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price target on shares of Alector in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. BTIG Research raised 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. Finally, Cantor Fitzgerald upgraded Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.63.

Hedge Funds Weigh In On Alector

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lexington Partners L.P. purchased a new position in Alector during the 3rd quarter worth $30,000. Savant Capital LLC purchased a new stake in shares of Alector in the third quarter valued at about $35,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Alector during the third quarter worth about $37,000. Bronte Capital Management Pty Ltd. purchased a new position in Alector during the fourth quarter worth about $30,000. Finally, Hershey Trust Co. raised its holdings in Alector by 100.0% during the fourth 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. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Company Profile

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.