Alector, Inc. (NASDAQ:ALEC) CFO Sells $35,609.36 in Stock

Alector, Inc. (NASDAQ:ALEC) CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the sale, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Alector Stock Up 7.3 %

Shares of NASDAQ:ALEC opened at $4.85 on Friday. The firm has a market cap of $467.47 million, a P/E ratio of -3.51 and a beta of 0.68. Alector, Inc. has a 12-month low of $3.66 and a 12-month high of $8.90. The business has a fifty day simple moving average of $5.31 and a 200 day simple moving average of $5.46.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.04 million. During the same period last year, the company earned $0.02 earnings per share. As a group, equities research analysts expect that Alector, Inc. will post -1.92 EPS for the current year.

Institutional Investors Weigh In On Alector

Several institutional investors and hedge funds have recently made changes to their positions in ALEC. Federated Hermes Inc. boosted its stake in Alector by 4.1% during the second quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after acquiring an additional 2,709 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of Alector by 2.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after purchasing an additional 3,500 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Alector by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after buying an additional 3,790 shares during the period. ProShare Advisors LLC raised its stake in Alector by 24.1% during the 1st quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after buying an additional 3,827 shares during the period. Finally, American International Group Inc. boosted its holdings in Alector by 13.0% in the first quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after acquiring an additional 4,105 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ALEC shares. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.67.

About Alector

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.