Alector (NASDAQ:ALEC) Shares Down 7.8% – What’s Next?

Alector, Inc. (NASDAQ:ALEC) shares dropped 7.8% during mid-day trading on Tuesday . The stock traded as low as $5.56 and last traded at $5.59. Approximately 175,350 shares were traded during trading, a decline of 72% from the average daily volume of 620,290 shares. The stock had previously closed at $6.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALEC shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of Alector in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alector presently has a consensus rating of “Buy” and an average target price of $17.75.

Alector Trading Down 8.4 %

The company has a 50 day moving average of $5.10 and a 200 day moving average of $5.13. The firm has a market cap of $543.51 million, a price-to-earnings ratio of -3.26 and a beta of 0.66.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. As a group, sell-side analysts anticipate that Alector, Inc. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling at Alector

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now directly owns 291,715 shares in the company, valued at approximately $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,722 shares of company stock worth $232,883 over the last 90 days. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

A number of institutional investors and hedge funds have recently made changes to their positions in ALEC. Gladius Capital Management LP purchased a new stake in Alector in the second quarter worth about $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Alector during the first quarter valued at approximately $40,000. nVerses Capital LLC bought a new stake in shares of Alector during the third quarter valued at approximately $51,000. Lazard Asset Management LLC bought a new stake in Alector in the 1st quarter worth approximately $59,000. Finally, Valence8 US LP bought a new stake in Alector in the 3rd quarter worth approximately $69,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

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.