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

Alector, Inc. (NASDAQ:ALEC) CFO Marc Grasso sold 16,489 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction 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 trade represents a 4.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alector Price Performance

Shares of ALEC stock opened at $2.20 on Friday. The company has a market cap of $215.45 million, a price-to-earnings ratio of -1.29 and a beta of 0.51. The stock has a 50 day simple moving average of $4.40 and a 200-day simple moving average of $4.90. Alector, Inc. has a 1-year low of $2.00 and a 1-year high of $8.90.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.33 million. Analysts anticipate that Alector, Inc. will post -1.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of Alector in the 2nd quarter worth $29,000. Point72 DIFC Ltd acquired a new stake in shares of Alector in the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alector in the 3rd quarter worth $40,000. nVerses Capital LLC acquired a new stake in shares of Alector in the 3rd quarter worth $51,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Alector in the 1st quarter worth $59,000. 85.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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