Arnon Rosenthal Sells 72,606 Shares of Alector (NASDAQ:ALEC) Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 72,606 shares of the 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 completion of the transaction, the chief executive officer directly 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 accessible through this link.

Alector Stock Performance

Shares of ALEC stock opened at $2.46 on Friday. Alector, Inc. has a 52 week low of $1.09 and a 52 week high of $3.40. The company has a market cap of $274.68 million, a PE ratio of -2.24 and a beta of 0.65. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.80. The company’s fifty day simple moving average is $1.91 and its 200-day simple moving average is $2.06.

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

Analyst Upgrades and Downgrades

Several research firms have commented on ALEC. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised Alector from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.62.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. acquired a new stake in shares of Alector during the 2nd quarter valued at about $30,000. Hershey Trust Co. increased its holdings in Alector by 100.0% in the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after buying an additional 10,286 shares during the last quarter. Virtu Financial LLC bought a new position in Alector during the fourth quarter valued at approximately $34,000. The Manufacturers Life Insurance Company acquired a new stake in Alector in the second quarter valued at approximately $39,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Alector in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Company Profile

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.