Alector (NASDAQ:ALEC) Trading 9.8% Higher

Shares of Alector, Inc. (NASDAQ:ALEC) rose 9.8% on Friday . The stock 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.

Analyst Ratings Changes

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

Alector Stock Up 9.1 %

The firm’s 50-day simple moving average is $6.07 and its 200 day simple moving average is $6.16. The stock has a market capitalization of $502.69 million, a P/E ratio of -3.39 and a beta of 0.79.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.31. Alector had a negative net margin of 134.34% and a negative return on equity of 77.15%. The firm had revenue of $15.19 million for the quarter, compared to analysts’ expectations of $8.35 million. As a group, equities analysts anticipate that Alector, Inc. will post -1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alector news, CEO Arnon Rosenthal sold 18,837 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the sale, the chief executive officer now directly owns 2,000,380 shares in the company, valued at $13,842,629.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alector news, insider Gary Romano sold 6,001 shares of the business’s 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 sale, the insider now owns 196,313 shares in the company, valued at approximately $1,358,485.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Arnon Rosenthal sold 18,837 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $130,352.04. Following the sale, the chief executive officer now owns 2,000,380 shares in the company, valued at approximately $13,842,629.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,554 shares of company stock worth $211,434. 14.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alector

A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Alector by 58.3% during the third quarter. FMR LLC now owns 12,172,045 shares of the company’s stock worth $78,875,000 after purchasing an additional 4,481,420 shares during the period. Euclidean Capital LLC boosted its position in Alector by 33.3% during the third quarter. Euclidean Capital LLC now owns 1,307,858 shares of the company’s stock worth $8,475,000 after purchasing an additional 326,964 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Alector by 33.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 778,077 shares of the company’s stock worth $5,042,000 after purchasing an additional 195,411 shares during the period. Panagora Asset Management Inc. boosted its position in Alector by 21.2% during the third quarter. Panagora Asset Management Inc. now owns 293,534 shares of the company’s stock worth $1,902,000 after purchasing an additional 51,440 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Alector during the fourth quarter worth approximately $1,920,000. 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.