Arnon Rosenthal Sells 52,172 Shares of Alector, Inc. (NASDAQ:ALEC) Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 52,172 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following the sale, the chief executive officer now owns 2,507,074 shares in the company, valued at $6,317,826.48. The trade was a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $2.19 on Thursday. The company’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $4.92. The stock has a market capitalization of $214.47 million, a price-to-earnings ratio of -1.29 and a beta of 0.51. Alector, Inc. has a 1 year low of $2.14 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, analysts anticipate that Alector, Inc. will post -1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALEC has been the topic of several analyst reports. HC Wainwright lowered their target price on Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $9.00 to $1.00 in a report on Wednesday. BTIG Research reduced their price target on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Alector currently has a consensus rating of “Hold” and a consensus price target of $7.17.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Alector by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after purchasing an additional 526,037 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Alector in the 1st quarter worth approximately $59,000. SG Americas Securities LLC purchased a new stake in Alector in the 2nd quarter worth approximately $291,000. Gladius Capital Management LP bought a new position in shares of Alector in the 2nd quarter worth $29,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Alector by 21.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,938 shares of the company’s stock worth $1,271,000 after buying an additional 49,625 shares during the last quarter. 85.83% of the stock is owned by institutional investors.

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.