Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alector Inc shares valued at $130,386 were sold by Rosenthal Arnon on Mar 04 ’24. At $6.92 per share, Rosenthal Arnon sold 18,837 shares. The insider’s holdings dropped to 2,000,380 shares worth approximately $12.46 million following the completion of this transaction.
Also, Kenkare-Mitra Sara sold 10,169 shares, netting a total of over 70,387 in proceeds. Following the sale of shares at $6.92 each, the insider now holds 318,847 shares.
Before that, Romano Gary had sold 6,001 shares from its account. In a trade valued at $41,554, the Chief Medical Officer traded Alector Inc shares for $6.92 each. Upon closing the transaction, the insider’s holdings decreased to 6,001 shares, worth approximately $1.22 million.
As published in a research note from Stifel on December 14, 2023, Alector Inc [ALEC] has been rated up from a Hold to a Buy and the price target has been revised to $15 from $8. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in mid December. As of September 25, 2023, Goldman has initiated its “Sell” rating for ALEC. Earlier on September 22, 2023, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for ALEC stock.
Analyzing ALEC Stock Performance
During the last five days, there has been a surge of approximately 8.16%. Over the course of the year, Alector Inc shares have dropped approximately -21.93%. Shares of the company reached a 52-week high of $8.90 on 01/09/24 and a 52-week low of $5.49 on 01/19/24. A 50-day SMA is recorded $6.27, while a 200-day SMA reached $6.29. Nevertheless, trading volume fell to 0.44 million shares from 0.49 million shares the previous day.
Support And Resistance Levels for Alector Inc (ALEC)
According to the 24-hour chart, there is a support level at 5.98, which, if violated, would cause prices to drop to 5.74. In the upper region, resistance lies at 6.36. The next price resistance is at 6.50. RSI (Relative Strength Index) is 52.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 3.03%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Alector Inc subject to short interest?
Stocks of Alector Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.62 million shares to 5.85 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.23 million shares. A jump of 10.6% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.68 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.68.
