Marc Grasso Sells 16,489 Shares of Alector, Inc. (NASDAQ:ALEC) Stock

Alector, Inc. (NASDAQ:ALEC) CFO Marc Grasso sold 16,489 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $41,552.28. Following the transaction, the chief financial officer now owns 330,651 shares of the company’s stock, valued at approximately $833,240.52. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alector Trading Up 0.5 %

Shares of ALEC stock opened at $2.20 on Friday. The business’s 50 day moving average is $4.40 and its two-hundred day moving average is $4.90. Alector, Inc. has a twelve month low of $2.00 and a twelve month high of $8.90. The company has a market capitalization of $215.45 million, a P/E ratio of -1.29 and a beta of 0.51.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The firm had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. As a group, equities analysts predict that Alector, Inc. will post -1.86 earnings per share for the current fiscal year.

Institutional Trading of Alector

A number of institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its position in Alector by 132.4% during the third quarter. Barclays PLC now owns 176,800 shares of the company’s stock worth $824,000 after purchasing an additional 100,731 shares in the last quarter. Geode Capital Management LLC boosted its position in Alector by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after purchasing an additional 148,357 shares in the last quarter. Jane Street Group LLC boosted its position in Alector by 24.2% during the third quarter. Jane Street Group LLC now owns 154,942 shares of the company’s stock worth $722,000 after purchasing an additional 30,180 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Alector during the third quarter worth $639,000. Finally, Sphera Funds Management LTD. boosted its position in Alector by 1.6% during the third quarter. Sphera Funds Management LTD. now owns 620,000 shares of the company’s stock worth $2,889,000 after purchasing an additional 10,000 shares in the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALEC has been the subject of a number of research analyst reports. HC Wainwright lowered their price target on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a report on Friday, November 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. BTIG Research cut their target price on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $9.00 to $1.00 in a research report on Wednesday. Finally, Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $10.00 to $3.00 in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.17.

About Alector

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.