Alector (NASDAQ:ALEC) Sees Strong Trading Volume

Alector, Inc. (NASDAQ:ALEC) saw strong trading volume on Tuesday . 599,992 shares were traded during trading, an increase of 6% from the previous session’s volume of 566,748 shares.The stock last traded at $6.25 and had previously closed at $6.13.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Mizuho cut their price objective on shares of Alector from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Morgan Stanley restated an “equal weight” rating and issued a $10.00 target price on shares of Alector in a research note on Monday, August 7th. Stifel Nicolaus lowered their target price on shares of Alector from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Tuesday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $41.00 target price on shares of Alector in a research note on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

Alector Price Performance

The stock has a market capitalization of $525.61 million, a PE ratio of -3.56 and a beta of 0.75. The business’s fifty day moving average price is $6.48 and its two-hundred day moving average price is $6.71.

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

Insider Buying and Selling at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 6,214 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $5.19, for a total value of $32,250.66. Following the sale, the insider now directly owns 177,935 shares of the company’s stock, valued at $923,482.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alector news, insider Sara Kenkare-Mitra sold 6,214 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $5.19, for a total value of $32,250.66. Following the sale, the insider now directly owns 177,935 shares of the company’s stock, valued at $923,482.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 5,647 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $5.19, for a total transaction of $29,307.93. Following the completion of the transaction, the chief executive officer now owns 1,645,448 shares of the company’s stock, valued at approximately $8,539,875.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 512,975 shares of company stock valued at $3,067,340. 14.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vident Investment Advisory LLC raised its position in shares of Alector by 11.6% in the fourth quarter. Vident Investment Advisory LLC now owns 11,440 shares of the company’s stock worth $106,000 after acquiring an additional 1,188 shares during the period. Legal & General Group Plc raised its position in shares of Alector by 3.0% during the 4th quarter. Legal & General Group Plc now owns 53,302 shares of the company’s stock worth $492,000 after purchasing an additional 1,554 shares during the last quarter. Rhumbline Advisers raised its position in shares of Alector by 2.9% during the 1st quarter. Rhumbline Advisers now owns 61,472 shares of the company’s stock worth $876,000 after purchasing an additional 1,753 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Alector during the 1st quarter worth about $25,000. Finally, Cornercap Investment Counsel Inc. raised its position 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 worth $209,000 after purchasing an additional 1,811 shares during 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.