Insider Selling: Alector, Inc. (NASDAQ:ALEC) CEO Sells $48,663.68 in Stock

Posted by on Mar 6th, 2023

Alector, Inc. (NASDAQ:ALEC – Get Rating) CEO Arnon Rosenthal sold 5,849 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $8.32, for a total transaction of $48,663.68. Following the sale, the chief executive officer now owns 1,628,546 shares of the company’s stock, valued at $13,549,502.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alector Trading Down 4.2 %

ALEC opened at $7.89 on Monday. The company has a fifty day moving average price of $8.96 and a two-hundred day moving average price of $9.09. Alector, Inc. has a 1-year low of $6.84 and a 1-year high of $15.72. The company has a market cap of $655.11 million, a P/E ratio of -4.90 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $41.00 price target on shares of Alector in a report on Wednesday, March 1st. BTIG Research reduced their target price on shares of Alector from $54.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America lowered shares of Alector from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $24.00 to $12.00 in a research report on Friday, January 6th. Mizuho lowered their target price on shares of Alector from $15.00 to $12.00 in a report on Friday. Finally, TheStreet cut Alector from a “c-” rating to a “d” rating in a research note on Friday, November 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.67.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently made changes to their positions in ALEC. Quantbot Technologies LP purchased a new position in Alector during the 1st quarter worth $25,000. Great West Life Assurance Co. Can purchased a new stake in Alector in the 3rd quarter valued at about $27,000. Lazard Asset Management LLC lifted its position in shares of Alector by 99.2% during the 2nd quarter. Lazard Asset Management LLC now owns 6,231 shares of the company’s stock worth $63,000 after buying an additional 3,103 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Alector in the third quarter worth $65,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Alector during the 4th quarter valued at $93,000. 64.96% of the stock is owned by institutional investors.

About Alector

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Alector, Inc operates as a clinical-stage biopharmaceutical company, which engages in pioneering of immuno-neurology. It develops portfolio of innate immune system programs, designed to functionally repair genetic mutations and enable the rejuvenated immune cells to counteract emerging brain pathologies.

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