Alector (NASDAQ:ALEC) Trading Down 4.1%

Shares of Alector, Inc. (NASDAQ:ALEC) fell 4.1% on Monday . The stock traded as low as $6.28 and last traded at $6.29. 31,187 shares were traded during trading, a decline of 94% from the average session volume of 563,121 shares. The stock had previously closed at $6.56.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Mizuho cut their price target on Alector from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 11th. HC Wainwright restated a “buy” rating and issued a $41.00 price target on shares of Alector in a report on Friday, August 4th. Morgan Stanley restated an “equal weight” rating and issued a $10.00 price target on shares of Alector in a report on Monday, August 7th. Finally, Stifel Nicolaus cut their price target on Alector from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Alector has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

Alector Price Performance

The business has a 50-day simple moving average of $6.48 and a two-hundred day simple moving average of $6.72. The stock has a market cap of $528.13 million, a price-to-earnings ratio of -3.77 and a beta of 0.75.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.83. The firm had revenue of $56.21 million for the quarter, compared to the consensus estimate of $3.63 million. Alector had a negative return on equity of 67.57% and a negative net margin of 140.18%. As a group, equities analysts anticipate that Alector, Inc. will post -1.85 earnings per share for the current fiscal year.

Insider Activity

In other Alector news, major shareholder Polaris Venture Management Co. sold 500,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $6.00, for a total transaction of $3,000,000.00. Following the transaction, the insider now owns 10,853,817 shares in the company, valued at approximately $65,122,902. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alector news, CEO Arnon Rosenthal sold 5,647 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $5.19, for a total value of $29,307.93. Following the sale, the chief executive officer now owns 1,645,448 shares of the company’s stock, valued at approximately $8,539,875.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Polaris Venture Management Co. sold 500,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $6.00, for a total value of $3,000,000.00. Following the completion of the sale, the insider now directly owns 10,853,817 shares in the company, valued at approximately $65,122,902. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 512,975 shares of company stock valued at $3,067,340. 14.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alector

Large investors have recently modified their holdings of the business. Panagora Asset Management Inc. boosted its holdings in shares of Alector by 60.3% in the 1st quarter. Panagora Asset Management Inc. now owns 298,218 shares of the company’s stock valued at $1,846,000 after purchasing an additional 112,207 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Alector by 34.7% in the 1st quarter. Russell Investments Group Ltd. now owns 151,262 shares of the company’s stock valued at $936,000 after purchasing an additional 38,953 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Alector by 4.0% in the 4th quarter. Schroder Investment Management Group now owns 210,665 shares of the company’s stock valued at $1,944,000 after purchasing an additional 8,042 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its holdings in shares of Alector by 8.7% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 22,678 shares of the company’s stock valued at $209,000 after acquiring an additional 1,811 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Alector by 1,493.7% during the 4th quarter. Victory Capital Management Inc. now owns 185,358 shares of the company’s stock valued at $1,635,000 after acquiring an additional 173,727 shares in the last quarter. Institutional investors and hedge funds own 69.71% 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.