Alector (NASDAQ:ALEC) CEO Sells $193,131.96 in Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 72,606 shares of Alector stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total value of $193,131.96. Following the sale, the chief executive officer owned 2,294,600 shares in the company, valued at $6,103,636. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $2.46 on Monday. Alector, Inc. has a 1 year low of $1.09 and a 1 year high of $3.40. The company has a market capitalization of $274.68 million, a PE ratio of -2.24 and a beta of 0.65. The business has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $2.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.26 and a quick ratio of 5.26.

Alector (NASDAQ:ALEC) last released its earnings results on Thursday, August 6th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The company had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $1.71 million. Alector had a negative return on equity of 531.03% and a negative net margin of 850.13%. Analysts forecast that Alector, Inc. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALEC. Prudential Financial Inc. bought a new position in shares of Alector in the second quarter worth $30,000. Hershey Trust Co. raised its stake in shares of Alector by 100.0% during the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock valued at $32,000 after purchasing an additional 10,286 shares during the period. Virtu Financial LLC bought a new stake in shares of Alector during the 4th quarter valued at $34,000. The Manufacturers Life Insurance Company purchased a new stake in Alector during the 2nd quarter worth about $39,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Alector during the 4th quarter worth about $40,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.62.

About Alector

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.