Alector, Inc. (NASDAQ:ALEC) CFO Sells $41,552.28 in Stock

Alector, Inc. (NASDAQ:ALEC) CFO Marc Grasso sold 16,489 shares of Alector stock in a transaction dated 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 in the company, valued at approximately $833,240.52. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Alector Trading Up 0.4 %

Shares of NASDAQ:ALEC traded up $0.01 during trading on Tuesday, reaching $2.52. 1,627,868 shares of the stock were exchanged, compared to its average volume of 1,512,084. Alector, Inc. has a 12 month low of $2.37 and a 12 month high of $8.90. The stock has a 50-day moving average price of $4.56 and a 200-day moving average price of $4.96. The firm has a market cap of $246.78 million, a PE ratio of -1.48 and a beta of 0.51.

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

Analyst Ratings Changes

ALEC has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. HC Wainwright cut their price objective on shares of Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday. BTIG Research reduced their price objective on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $10.00 to $3.00 in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Alector has an average rating of “Moderate Buy” and a consensus target price of $8.40.

Institutional Trading of Alector

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Alector by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after buying an additional 526,037 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Alector in the 1st quarter valued at approximately $59,000. SG Americas Securities LLC bought a new position in Alector in the 2nd quarter valued at approximately $291,000. Gladius Capital Management LP bought a new position in shares of Alector in the 2nd quarter valued at $29,000. Finally, Bank of New York Mellon Corp increased its holdings in Alector by 21.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,938 shares of the company’s stock worth $1,271,000 after purchasing an additional 49,625 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors.

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.