Alector (NASDAQ:ALEC) Stock Price Up 7% – Still a Buy?

Alector, Inc. (NASDAQ:ALEC) was up 7% during trading on Monday . The company traded as high as $5.42 and last traded at $5.37. Approximately 513,481 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 609,598 shares. The stock had previously closed at $5.02.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Alector Stock Up 6.8 %

The firm has a fifty day simple moving average of $5.06 and a 200-day simple moving average of $5.11. The company has a market capitalization of $521.64 million, a P/E ratio of -2.98 and a beta of 0.66.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same period in the prior year, the company earned $0.02 earnings per share. On average, sell-side analysts predict that Alector, Inc. will post -1.92 earnings per share for the current fiscal year.

Insider Transactions at Alector

In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $67,958.88. Following the completion of the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Marc Grasso sold 7,297 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock valued at $286,013 over the last three months. Company insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

Several institutional investors and hedge funds have recently bought and sold shares of ALEC. Allspring Global Investments Holdings LLC bought a new stake in Alector in the first quarter valued at approximately $40,000. Swiss National Bank raised its stake in Alector by 6.5% in the first quarter. Swiss National Bank now owns 131,900 shares of the company’s stock valued at $794,000 after buying an additional 8,000 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Alector in the first quarter valued at approximately $760,000. Russell Investments Group Ltd. raised its stake in Alector by 9.9% in the first quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock valued at $472,000 after buying an additional 7,066 shares during the period. Finally, ProShare Advisors LLC raised its stake in Alector by 24.1% in the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after buying an additional 3,827 shares during the period. Institutional investors own 85.83% 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.