Alector (NASDAQ:ALEC) Shares Down 5.6%

Alector, Inc. (NASDAQ:ALEC)’s stock price traded down 5.6% during trading on Monday . The company traded as low as $5.43 and last traded at $5.43. 139,133 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 631,049 shares. The stock had previously closed at $5.75.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ALEC shares. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Alector in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Alector Trading Down 5.2 %

The stock’s 50 day moving average price is $5.51 and its 200 day moving average price is $5.36. The company has a market cap of $525.30 million, a price-to-earnings ratio of -3.97 and a beta of 0.68.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. During the same period in the previous year, the company posted $0.02 earnings per share. On average, equities analysts expect that Alector, Inc. will post -1.92 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Marc Grasso sold 7,297 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the sale, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alector news, CFO Marc Grasso sold 7,297 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paula Hammond sold 10,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the sale, the director now directly owns 60,209 shares of the company’s stock, valued at $304,657.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alector

Several institutional investors and hedge funds have recently bought and sold shares of ALEC. Gladius Capital Management LP acquired a new position in Alector during the 2nd quarter valued at about $29,000. Allspring Global Investments Holdings LLC bought a new position in shares of Alector in the first quarter worth $40,000. Lazard Asset Management LLC bought a new stake in shares of Alector during the first quarter valued at about $59,000. Caxton Associates LP lifted its holdings in Alector by 41.3% in the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after purchasing an additional 5,933 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in Alector by 89.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after buying an additional 8,670 shares in the last quarter. Institutional investors and hedge funds 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.