Insider Selling: Alector, Inc. (NASDAQ:ALEC) Insider Sells 8,040 Shares of Stock

Alector, Inc. (NASDAQ:ALECGet Free Report) insider Gary Romano sold 8,040 shares of Alector stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $38,592.00. Following the completion of the sale, the insider now owns 188,273 shares of the company’s stock, valued at approximately $903,710.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alector Stock Down 5.2 %

Shares of NASDAQ:ALEC traded down $0.26 during midday trading on Tuesday, hitting $4.77. The stock had a trading volume of 608,327 shares, compared to its average volume of 653,438. The company’s 50-day moving average price is $5.44 and its 200-day moving average price is $6.16. The company has a market capitalization of $459.78 million, a P/E ratio of -3.64 and a beta of 0.77. Alector, Inc. has a fifty-two week low of $3.66 and a fifty-two week high of $9.06.

Alector (NASDAQ:ALECGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.10. The company had revenue of $15.89 million during the quarter, compared to analysts’ expectations of $14.63 million. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. Research analysts expect that Alector, Inc. will post -1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently made changes to their positions in ALEC. Principal Financial Group Inc. grew its holdings in shares of Alector by 20.2% during the 3rd quarter. Principal Financial Group Inc. now owns 41,493 shares of the company’s stock valued at $269,000 after purchasing an additional 6,973 shares during the last quarter. Barclays PLC grew its holdings in shares of Alector by 24.0% during the 3rd quarter. Barclays PLC now owns 138,826 shares of the company’s stock valued at $899,000 after purchasing an additional 26,856 shares during the last quarter. Shell Asset Management Co. bought a new stake in shares of Alector during the 3rd quarter valued at approximately $204,000. Rafferty Asset Management LLC grew its holdings in shares of Alector by 12.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 186,624 shares of the company’s stock valued at $1,209,000 after purchasing an additional 20,328 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Alector by 58.3% during the 3rd quarter. FMR LLC now owns 12,172,045 shares of the company’s stock valued at $78,875,000 after purchasing an additional 4,481,420 shares during the last quarter. 85.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALEC shares. HC Wainwright dropped their price objective on shares of Alector from $41.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Check Out Our Latest Research Report on ALEC

About Alector

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Alector (NASDAQ:ALEC)

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