In a filing, Alector Inc revealed its Chief Executive Officer Rosenthal Arnon unloaded Company’s shares for reported $0.13 million on Mar 04 ’24. In the deal valued at $6.92 per share,18,837 shares were sold. As a result of this transaction, Rosenthal Arnon now holds 2,000,380 shares worth roughly $11.62 million.
Then, Kenkare-Mitra Sara sold 10,169 shares, generating $70,387 in total proceeds. Upon selling the shares at $6.92, the President and Head of R&D now owns 318,847 shares.
Before that, Romano Gary sold 6,001 shares. Alector Inc shares valued at $41,554 were divested by the Chief Medical Officer at a price of $6.92 per share. As a result of the transaction, Romano Gary now holds 196,313 shares, worth roughly $1.14 million.
Stifel upgraded its Alector Inc [ALEC] rating to a Buy from a a Hold in a research note published on December 14, 2023; the price target was increased to $15 from $8. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who began to cover the stock in mid December with a ‘”a Buy”‘ rating. Goldman began covering ALEC with “Sell” recommendation on September 25, 2023. Cantor Fitzgerald started covering the stock on September 22, 2023. It rated ALEC as “an Overweight”.
Price Performance Review of ALEC
On Monday, Alector Inc [NASDAQ:ALEC] saw its stock fall -0.51% to $5.81. Over the last five days, the stock has lost -5.68%. Alector Inc shares have fallen nearly -27.19% since the year began. Nevertheless, the stocks have fallen -5.53% over the past one year. While a 52-week high of $9.06 was reached on 01/09/24, a 52-week low of $3.66 was recorded on 01/19/24. SMA at 50 days reached $6.27, while 200 days put it at $6.30. A total of 0.75 million shares were traded, compared to the trading of 0.48 million shares in the previous session.
Levels Of Support And Resistance For ALEC Stock
The 24-hour chart illustrates a support level at 5.73, which if violated will result in even more drops to 5.64. On the upside, there is a resistance level at 5.90. A further resistance level may holdings at 5.98. The Relative Strength Index (RSI) on the 14-day chart is 41.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.28%. Stochastics %K at 20.17% indicates the stock is a holding.
How much short interest is there in Alector Inc?
A steep rise in short interest was recorded in Alector Inc stocks on Mar 15, 2024, growing by 0.62 million shares to a total of 5.85 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.23 million shares. There was a rise of 10.6%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.78% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.68.
