Alector (NASDAQ:ALEC) Trading Up 6.3%

Alector, Inc. (NASDAQ:ALEC)’s share price traded up 6.3% during mid-day trading on Friday . The stock traded as high as $5.79 and last traded at $5.75. 114,504 shares were traded during mid-day trading, a decline of 83% from the average session volume of 657,007 shares. The stock had previously closed at $5.41.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ALEC shares. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Alector in a report on Thursday, June 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Alector Stock Up 2.4 %

The firm has a market cap of $534.00 million, a P/E ratio of -4.14 and a beta of 0.73. The firm’s 50-day moving average price is $4.86 and its 200 day moving average price is $5.85.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.10. The company had revenue of $15.89 million for the quarter, compared to the consensus estimate of $14.63 million. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. On average, equities analysts predict that Alector, Inc. will post -1.93 earnings per share for the current year.

Insider Activity

In related news, CFO Marc Grasso sold 6,920 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $33,216.00. Following the completion of the sale, the chief financial officer now directly owns 138,037 shares of the company’s stock, valued at $662,577.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Gary Romano sold 8,040 shares of Alector stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $38,592.00. Following the transaction, the insider now owns 188,273 shares of the company’s stock, valued at approximately $903,710.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc Grasso sold 6,920 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $33,216.00. Following the sale, the chief financial officer now directly owns 138,037 shares of the company’s stock, valued at $662,577.60. The disclosure for this sale can be found here. Insiders sold a total of 40,095 shares of company stock worth $192,456 over the last 90 days. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alector

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co increased its stake in shares of Alector by 12.3% in the fourth quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock worth $113,000 after acquiring an additional 1,541 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Alector by 3.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,239 shares of the company’s stock valued at $489,000 after acquiring an additional 2,120 shares during the last quarter. ProShare Advisors LLC grew its position in Alector by 24.1% in the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after acquiring an additional 3,827 shares in the last quarter. American International Group Inc. increased its stake in shares of Alector by 13.0% during the 1st quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after purchasing an additional 4,105 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of Alector by 2.3% during the 4th quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock valued at $1,523,000 after purchasing an additional 4,287 shares in the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

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.