Alector (NASDAQ:ALEC) Stock Price Up 9.8%

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

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $41.00 target price on shares of Alector in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alector currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Alector Stock Up 9.1 %

The firm’s fifty day moving average price is $6.09 and its 200-day moving average price is $6.16. The stock has a market cap of $502.69 million, a P/E ratio of -3.32 and a beta of 0.79.

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

Insider Buying and Selling at Alector

In related news, CEO Arnon Rosenthal sold 18,837 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $130,352.04. Following the completion of the transaction, the chief executive officer now owns 2,000,380 shares in the company, valued at $13,842,629.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Arnon Rosenthal sold 18,837 shares of Alector stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total transaction of $130,352.04. Following the sale, the chief executive officer now owns 2,000,380 shares of the company’s stock, valued at approximately $13,842,629.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Romano sold 6,001 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 transaction of $41,526.92. Following the completion of the transaction, the insider now directly owns 196,313 shares of the company’s stock, valued at $1,358,485.96. The disclosure for this sale can be found here. Insiders sold 30,554 shares of company stock valued at $211,434 in the last 90 days. Insiders own 14.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Diversified Trust Co lifted its position in Alector by 12.3% during the 4th quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock valued at $113,000 after acquiring an additional 1,541 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alector by 3.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,239 shares of the company’s stock valued at $489,000 after purchasing an additional 2,120 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Alector by 2.3% in the 4th quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock worth $1,523,000 after purchasing an additional 4,287 shares in the last quarter. Blackstone Inc. boosted its position in shares of Alector by 50.0% in the 3rd quarter. Blackstone Inc. now owns 15,429 shares of the company’s stock worth $100,000 after purchasing an additional 5,143 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Alector in the 1st quarter worth approximately $40,000. Institutional investors own 85.83% of the company’s stock.

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.