Alector (NASDAQ:ALEC) Shares Down 7.8% – What’s Next?

Alector, Inc. (NASDAQ:ALEC) fell 7.8% during trading on Tuesday . The company traded as low as $5.56 and last traded at $5.59. 175,350 shares were traded during mid-day trading, a decline of 72% from the average session volume of 620,290 shares. The stock had previously closed at $6.06.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALEC. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Alector in a report on Thursday, November 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $17.75.

Alector Stock Performance

The company has a market capitalization of $543.51 million, a P/E ratio of -3.26 and a beta of 0.66. The company’s fifty day simple moving average is $5.10 and its 200-day simple moving average is $5.13.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The firm had revenue of $15.34 million during the quarter, compared to analyst estimates of $16.33 million. On average, sell-side analysts predict that Alector, Inc. will post -1.9 EPS for the current year.

Insider Activity at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now owns 291,715 shares in the company, valued at approximately $1,423,569.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the sale, the insider now directly owns 291,715 shares in the company, valued at approximately $1,423,569.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,722 shares of company stock valued at $232,883. 9.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alector

Large investors have recently modified their holdings of the company. Valence8 US LP acquired a new stake in shares of Alector during the third quarter worth $69,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alector by 14.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 760,606 shares of the company’s stock worth $3,544,000 after purchasing an additional 94,145 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alector by 54.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 174,718 shares of the company’s stock worth $814,000 after purchasing an additional 61,798 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Alector during the third quarter worth $90,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Alector by 19.5% during the third quarter. Victory Capital Management Inc. now owns 186,747 shares of the company’s stock worth $870,000 after purchasing an additional 30,513 shares during the period. 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.