Alector, Inc. (NASDAQ:ALEC – Get Free Report) CFO Marc Grasso sold 7,297 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 130,740 shares in the company, valued at approximately $638,011.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Alector Stock Down 2.1 %
Alector stock traded down $0.10 during mid-day trading on Wednesday, hitting $4.62. The company had a trading volume of 305,611 shares, compared to its average volume of 631,471. The stock has a market cap of $449.62 million, a price-to-earnings ratio of -3.35 and a beta of 0.72. The business has a fifty day moving average of $5.30 and a 200 day moving average of $5.47. Alector, Inc. has a 1 year low of $3.66 and a 1 year high of $8.90.
Alector (NASDAQ:ALEC – Get Free Report) last announced its earnings results 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. The business had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.04 million. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. During the same period last year, the firm posted $0.02 earnings per share. Equities analysts anticipate that Alector, Inc. will post -1.92 earnings per share for the current year.
Hedge Funds Weigh In On Alector
A number of hedge funds have recently modified their holdings of ALEC. New York State Common Retirement Fund grew its position in shares of Alector by 104.9% during the fourth quarter. New York State Common Retirement Fund now owns 25,758 shares of the company’s stock worth $206,000 after acquiring an additional 13,189 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Alector in the 4th quarter valued at $81,000. BNP Paribas Financial Markets grew its position in Alector by 17.7% in the 4th quarter. BNP Paribas Financial Markets now owns 94,955 shares of the company’s stock valued at $758,000 after buying an additional 14,287 shares during the last quarter. Principal Financial Group Inc. grew its position in Alector by 17.5% in the 4th quarter. Principal Financial Group Inc. now owns 48,755 shares of the company’s stock valued at $389,000 after buying an additional 7,262 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Alector in the 4th quarter valued at $1,920,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on ALEC. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Alector in a report on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Alector has an average rating of “Moderate Buy” and a consensus price target of $14.67.
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.