Insider Selling: Alector (NASDAQ:ALEC) CEO Sells 72,606 Shares of Stock

Key Points

• Alector CEO Arnon Rosenthal sold 72,606 shares at an average price of $2.66, generating approximately $193,132. He retained 2.29 million shares after the transaction.
• Alector shares fell 2.0% to $2.46, while the clinical-stage biotech reported quarterly revenue of $3.32 million and an adjusted loss of $0.21 per share, exceeding analyst expectations.
• Analysts maintain a consensus “Hold” rating, with an average price target of $3.62; institutional investors own approximately 85.83% of the company.

Alector, Inc. (NASDAQ:ALEC - Get Free Report) CEO Arnon Rosenthal sold 72,606 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total value of $193,131.96. Following the transaction, the chief executive officer directly owned 2,294,600 shares in the company, valued at approximately $6,103,636. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Alector Stock Down 2.0%

Shares of Alector 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. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.80. The company has a market cap of $274.68 million, a price-to-earnings ratio of -2.24 and a beta of 0.65. Alector, Inc. has a 1-year low of $1.09 and a 1-year high of $3.40. The company has a 50-day simple moving average of $1.89 and a two-hundred day simple moving average of $2.05.

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

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

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