Alector (NASDAQ:ALEC) Insider Grace Wong-Sarad Sells 5,709 Shares of Stock

Alector, Inc. (NASDAQ:ALEC) insider Grace Wong-Sarad sold 5,709 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $11,246.73. Following the completion of the sale, the insider directly owned 98,936 shares in the company, valued at $194,903.92. This represents a 5.46% 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.

Grace Wong-Sarad also recently made the following trade(s):

• On Wednesday, June 3rd, Grace Wong-Sarad sold 3,475 shares of Alector stock. The shares were sold at an average price of $1.88, for a total transaction of $6,533.00.
• On Thursday, April 16th, Grace Wong-Sarad sold 1,820 shares of Alector stock. The shares were sold at an average price of $2.65, for a total transaction of $4,823.00.
• On Tuesday, March 10th, Grace Wong-Sarad sold 1,000 shares of Alector stock. The shares were sold at an average price of $2.65, for a total transaction of $2,650.00.

Alector Trading Down 9.0%

Shares of ALEC opened at $1.78 on Thursday. The firm’s 50 day simple moving average is $2.29 and its 200 day simple moving average is $1.94. The company has a market capitalization of $197.08 million, a P/E ratio of -1.49 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.25 and a quick ratio of 5.25. Alector, Inc. has a 1-year low of $1.09 and a 1-year high of $3.40.

Alector (NASDAQ:ALEC) last announced its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. The business had revenue of $1.05 million for the quarter, compared to the consensus estimate of $9.67 million. Sell-side analysts forecast that Alector, Inc. will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alector

A number of large investors have recently bought and sold shares of the stock. Eversept Partners LP grew its holdings in shares of Alector by 34.3% in the first quarter. Eversept Partners LP now owns 1,351,106 shares of the company’s stock worth $2,905,000 after purchasing an additional 344,943 shares during the last quarter. Spruce Street Capital LP grew its holdings in shares of Alector by 87.9% in the first quarter. Spruce Street Capital LP now owns 2,101,068 shares of the company’s stock worth $4,517,000 after purchasing an additional 983,082 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Alector by 83.6% in the first quarter. Diversified Trust Co now owns 25,895 shares of the company’s stock worth $56,000 after purchasing an additional 11,793 shares during the last quarter. Elmind Capital LP bought a new position in shares of Alector in the fourth quarter worth approximately $1,404,000. Finally, Foresite Capital Management IV LLC bought a new position in shares of Alector in the fourth quarter worth approximately $6,064,000. 85.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ALEC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alector in a research report on Monday, May 4th. BTIG Research upgraded shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Tuesday, March 10th. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price target on shares of Alector in a research report on Monday, May 4th. Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.63.

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.