Insider Selling: Alector, Inc. (NASDAQ:ALEC) CEO Sells 100,000 Shares of Stock

Alector, Inc. (NASDAQ:ALEC) CEO Arnon Rosenthal sold 100,000 shares of the company’s stock in a transaction dated Wednesday, September 22nd. The stock was sold at an average price of $25.33, for a total value of $2,533,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arnon Rosenthal also recently made the following trade(s):

  • On Monday, September 20th, Arnon Rosenthal sold 100,000 shares of Alector stock. The stock was sold at an average price of $25.80, for a total value of $2,580,000.00.

ALEC traded down $0.74 during midday trading on Thursday, reaching $24.26. 662,501 shares of the company’s stock traded hands, compared to its average volume of 843,277. The firm has a fifty day moving average of $26.91 and a two-hundred day moving average of $22.88. Alector, Inc. has a 52 week low of $9.12 and a 52 week high of $43.32.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Monday, August 2nd. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02). The business had revenue of $6.57 million for the quarter, compared to the consensus estimate of $8.93 million. Alector had a negative net margin of 989.97% and a negative return on equity of 85.73%. As a group, sell-side analysts expect that Alector, Inc. will post 0.71 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in ALEC. BlackRock Inc. increased its position in Alector by 2.4% during the 1st quarter. BlackRock Inc. now owns 5,283,509 shares of the company’s stock valued at $106,412,000 after buying an additional 121,313 shares in the last quarter. Federated Hermes Inc. increased its position in Alector by 8.4% during the 1st quarter. Federated Hermes Inc. now owns 4,641,799 shares of the company’s stock valued at $93,486,000 after buying an additional 359,236 shares in the last quarter. FMR LLC increased its position in Alector by 8.9% during the 2nd quarter. FMR LLC now owns 4,092,092 shares of the company’s stock valued at $85,238,000 after buying an additional 334,300 shares in the last quarter. Franklin Resources Inc. increased its position in Alector by 2.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,323,265 shares of the company’s stock valued at $69,224,000 after buying an additional 65,157 shares in the last quarter. Finally, State Street Corp increased its position in Alector by 1.0% during the 2nd quarter. State Street Corp now owns 2,741,330 shares of the company’s stock valued at $57,102,000 after buying an additional 28,234 shares in the last quarter. 60.31% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $41.00 price objective on shares of Alector in a report on Wednesday, July 7th. Citigroup restated a “buy” rating and set a $43.00 target price (up from $31.00) on shares of Alector in a report on Tuesday, July 6th. Morgan Stanley increased their target price on Alector from $33.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, July 16th. Zacks Investment Research cut Alector from a “buy” rating to a “hold” rating in a report on Wednesday, September 1st. Finally, increased their target price on Alector from $31.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, July 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Alector has a consensus rating of “Buy” and an average target price of $39.00.

Alector Company Profile

Alector, Inc operates as a clinical-stage biopharmaceutical company, which engages in pioneering of immuno-neurology. It develops portfolio of innate immune system programs, designed to functionally repair genetic mutations and enable the rejuvenated immune cells to counteract emerging brain pathologies.

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