Polaris Venture Management Co. Sells 500,000 Shares of Alector, Inc. (NASDAQ:ALEC) Stock

Alector, Inc. (NASDAQ:ALEC) major shareholder Polaris Venture Management Co. sold 500,000 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $6.00, for a total value of $3,000,000.00. Following the transaction, the insider now directly owns 10,853,817 shares in the company, valued at approximately $65,122,902. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Alector Trading Up 4.1 %

Shares of ALEC stock opened at $6.37 on Friday. The stock has a 50 day moving average of $6.48 and a two-hundred day moving average of $6.76. Alector, Inc. has a 12 month low of $4.98 and a 12 month high of $10.07. The company has a market capitalization of $534.00 million, a P/E ratio of -3.70 and a beta of 0.75.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.83. Alector had a negative return on equity of 67.57% and a negative net margin of 140.18%. The company had revenue of $56.21 million during the quarter, compared to the consensus estimate of $3.63 million. Sell-side analysts predict that Alector, Inc. will post -1.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALEC has been the topic of a number of analyst reports. Mizuho lowered their price objective on Alector from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Stifel Nicolaus decreased their target price on Alector from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Tuesday, August 8th. Morgan Stanley restated an “equal weight” rating and set a $10.00 target price on shares of Alector in a research note on Monday, August 7th. Finally, HC Wainwright restated a “buy” rating and set a $41.00 target price on shares of Alector in a research note on Friday, August 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.13.

Institutional Trading of Alector

Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Alector in the 1st quarter worth approximately $25,000. Tower Research Capital LLC TRC lifted its position in shares of Alector by 349.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,571 shares of the company’s stock worth $28,000 after acquiring an additional 3,554 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Alector in the 1st quarter worth approximately $40,000. Point72 Hong Kong Ltd lifted its position in shares of Alector by 199.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 9,635 shares of the company’s stock worth $137,000 after buying an additional 6,414 shares during the period. Finally, Alpine Global Management LLC bought a new position in shares of Alector during the 4th quarter worth approximately $93,000. Institutional investors own 69.71% of the company’s stock.

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.