Sara Kenkare-Mitra Sells 41,687 Shares of Alector (NASDAQ:ALEC) Stock

Alector, Inc. (NASDAQ:ALEC) insider Sara Kenkare-Mitra sold 41,687 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $46,689.44. Following the completion of the sale, the insider directly owned 501,652 shares in the company, valued at $561,850.24. This represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Alector Stock Performance

Shares of NASDAQ:ALEC remained flat at $1.14 during trading on Wednesday. 2,416,619 shares of the stock were exchanged, compared to its average volume of 1,542,667. The company has a 50 day moving average price of $2.01 and a two-hundred day moving average price of $1.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76. The stock has a market cap of $124.43 million, a PE ratio of -1.07 and a beta of 0.67. Alector, Inc. has a 1 year low of $0.87 and a 1 year high of $3.40.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.08. The firm had revenue of $3.26 million during the quarter, compared to analysts’ expectations of $3.49 million. Alector had a negative return on equity of 123.02% and a negative net margin of 156.03%. As a group, equities research analysts predict that Alector, Inc. will post -1.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALEC. HC Wainwright decreased their price target on shares of Alector from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, October 22nd. Mizuho set a $1.50 target price on Alector and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. William Blair lowered shares of Alector from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 22nd. TD Cowen cut Alector from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Cantor Fitzgerald downgraded shares of Alector from an “overweight” rating to a “neutral” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Alector currently has an average rating of “Reduce” and a consensus price target of $3.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALEC. Vanguard Group Inc. boosted its stake in shares of Alector by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock worth $17,863,000 after purchasing an additional 46,955 shares during the period. Acadian Asset Management LLC lifted its stake in Alector by 50.7% in the second quarter. Acadian Asset Management LLC now owns 2,170,388 shares of the company’s stock worth $3,033,000 after purchasing an additional 729,727 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alector by 1.0% during the second quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock valued at $2,775,000 after buying an additional 19,970 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Alector by 25.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,334,032 shares of the company’s stock valued at $1,641,000 after acquiring an additional 274,341 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Alector by 181.2% in the third quarter. Millennium Management LLC now owns 1,155,027 shares of the company’s stock worth $3,419,000 after purchasing an additional 744,224 shares during the period. Institutional investors own 85.83% of the company’s stock.

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.