Alector (NASDAQ:ALEC) Stock Price Down 7.8% – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALEC shares. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Alector in a report on Thursday, November 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $17.75.

Alector Stock Performance

The company has a market cap of $480.84 million, a P/E ratio of -2.93 and a beta of 0.66. The stock has a 50-day moving average of $5.11 and a two-hundred day moving average of $5.13.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results 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. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The firm had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. Research analysts predict that Alector, Inc. will post -1.87 EPS for the current year.

Insider Buying and Selling at Alector

In related news, CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value 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 trade was a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the sale, the insider now directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,722 shares of company stock valued at $232,883 in the last 90 days. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Alector by 12.0% during the first quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after acquiring an additional 526,037 shares during the period. Acadian Asset Management LLC lifted its position in Alector by 211.6% in the first quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after buying an additional 301,936 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Alector by 73.1% in the second quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock valued at $419,000 after purchasing an additional 38,947 shares during the period. Creative Planning lifted its stake in Alector by 54.2% during the 3rd quarter. Creative Planning now owns 19,117 shares of the company’s stock worth $89,000 after acquiring an additional 6,723 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Alector by 6.5% in the first quarter. Swiss National Bank now owns 131,900 shares of the company’s stock valued at $794,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Company Profile

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.