Alector (NASDAQ:ALEC) CFO Neil Lindsay Berkley Sells 29,251 Shares

Key Points

• Alector CFO Neil Berkley sold 29,251 shares at an average price of $2.66, generating $77,807.66. His remaining ownership fell 7.70% to 350,649 shares.
• Alector shares declined 2.0% to $2.46, while the company continues to post significant losses despite beating quarterly earnings and revenue estimates.
• Analysts maintain a consensus “Hold” rating with a $3.62 target price; institutional investors own 85.83% of the stock.

Alector, Inc. (NASDAQ:ALEC - Get Free Report) CFO Neil Berkley sold 29,251 shares of Alector stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $77,807.66. Following the completion of the sale, the chief financial officer owned 350,649 shares in the company, valued at $932,726.34. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alector Stock Down 2.0%

Shares of ALEC stock traded down $0.05 during trading on Friday, reaching $2.46. The company's stock had a trading volume of 496,599 shares, compared to its average volume of 882,288. Alector, Inc. has a one year low of $1.09 and a one year high of $3.40. The business has a fifty day moving average price of $1.89 and a 200-day moving average price of $2.05. The company has a market cap of $274.68 million, a price-to-earnings ratio of -2.24 and a beta of 0.65. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.80.

Alector (NASDAQ:ALEC - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.02. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. The business had revenue of $3.32 million during the quarter, compared to the consensus estimate of $1.71 million. Analysts anticipate that Alector, Inc. will post -0.87 earnings per share for the current year.

Institutional Trading of Alector

Several institutional investors and hedge funds have recently bought and sold shares of ALEC. Prudential Financial Inc. acquired a new stake in shares of Alector in the second quarter valued at approximately $30,000. Hershey Trust Co. increased its holdings in shares of Alector by 100.0% during the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company's stock worth $32,000 after acquiring an additional 10,286 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Alector during the 4th quarter worth approximately $34,000. The Manufacturers Life Insurance Company acquired a new position in shares of Alector during the 2nd quarter worth approximately $39,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Alector in the 4th quarter valued at $40,000. Institutional investors own 85.83% of the company's stock.

Analyst Upgrades and Downgrades

ALEC has been the subject of several recent research reports. Wall Street Zen raised Alector from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings raised Alector from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $3.62.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector's approach aims to harness the body's natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer's disease and frontotemporal dementia.

The company's pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer's disease studies.

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