Alector (NASDAQ:ALEC) Trading Down 4.1%

Alector, Inc. (NASDAQ:ALEC) shares dropped 4.1% on Thursday . The company traded as low as $5.56 and last traded at $5.57. Approximately 274,071 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 623,899 shares. The stock had previously closed at $5.81.

Analysts Set New Price Targets

ALEC has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research note on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Alector in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Alector presently has an average rating of “Moderate Buy” and a consensus target price of $14.67.

Alector Stock Up 7.5 %

The company has a market capitalization of $581.20 million, a PE ratio of -4.37 and a beta of 0.68. The company’s 50 day moving average is $5.44 and its two-hundred day moving average is $5.42.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. During the same period in the previous year, the firm posted $0.02 earnings per share. Analysts forecast that Alector, Inc. will post -1.92 EPS for the current year.

Insider Transactions at Alector

In related news, CFO Marc Grasso sold 7,297 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at $638,011.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Marc Grasso sold 7,297 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock valued at $286,013 in the last ninety days. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Alector by 12.0% during the first quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after acquiring an additional 526,037 shares during the last quarter. Deerfield Management Company L.P. Series C grew its holdings in Alector by 7.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock valued at $5,213,000 after purchasing an additional 75,481 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Alector by 16.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 922,799 shares of the company’s stock worth $5,555,000 after purchasing an additional 128,515 shares during the period. Acadian Asset Management LLC lifted its stake in Alector by 32.8% in the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock worth $2,681,000 after purchasing an additional 146,015 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Alector by 61.7% during the second quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after buying an additional 135,614 shares during the period. Hedge funds and other institutional investors own 85.83% of the company’s stock.

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.