Alector (NASDAQ:ALEC) Trading 9.8% Higher

Alector, Inc. (NASDAQ:ALEC) was up 9.8% during trading on Friday . The stock traded as high as $5.29 and last traded at $5.28. Approximately 226,000 shares were traded during trading, a decline of 66% from the average daily volume of 674,484 shares. The stock had previously closed at $4.81.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $41.00 target price on shares of Alector in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Alector Stock Up 9.1 %

The firm has a market cap of $502.69 million, a PE ratio of -3.32 and a beta of 0.79. The business has a 50 day simple moving average of $6.09 and a two-hundred day simple moving average of $6.16.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.31. Alector had a negative net margin of 134.34% and a negative return on equity of 77.15%. The company had revenue of $15.19 million for the quarter, compared to the consensus estimate of $8.35 million. Equities analysts forecast that Alector, Inc. will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Alector

In other news, CEO Arnon Rosenthal sold 18,837 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $130,352.04. Following the transaction, the chief executive officer now directly owns 2,000,380 shares of the company’s stock, valued at $13,842,629.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alector news, CEO Arnon Rosenthal sold 18,837 shares of Alector stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total transaction of $130,352.04. Following the completion of the sale, the chief executive officer now directly owns 2,000,380 shares in the company, valued at approximately $13,842,629.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Romano sold 6,001 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $41,526.92. Following the completion of the sale, the insider now owns 196,313 shares in the company, valued at approximately $1,358,485.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,554 shares of company stock worth $211,434. 14.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALEC. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alector in the first quarter worth about $40,000. Rafferty Asset Management LLC lifted its holdings in Alector by 2.3% in the fourth quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock valued at $1,523,000 after acquiring an additional 4,287 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Alector in the 4th quarter worth approximately $1,920,000. Principal Financial Group Inc. grew its stake in shares of Alector by 17.5% during the 4th quarter. Principal Financial Group Inc. now owns 48,755 shares of the company’s stock worth $389,000 after purchasing an additional 7,262 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Alector by 17.7% during the 4th quarter. BNP Paribas Financial Markets now owns 94,955 shares of the company’s stock valued at $758,000 after purchasing an additional 14,287 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

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.