The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Alector Inc shares valued at $41,542 were sold by GRASSO MARC on Dec 02 ’24. At $2.52 per share, GRASSO MARC sold 16,489 shares. The insider’s holdings dropped to 330,651 shares worth approximately $0.72 million following the completion of this transaction.
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Also, Rosenthal Arnon sold 52,172 shares, netting a total of over 131,442 in proceeds. Following the sale of shares at $2.52 each, the insider now holds 2,507,074 shares.
Before that, Kenkare-Mitra Sara had sold 26,500 shares from its account. In a trade valued at $66,764, the President and Head of R&D traded Alector Inc shares for $2.52 each. Upon closing the transaction, the insider’s holdings decreased to 26,500 shares, worth approximately $1.24 million.
As published in a research note from BofA Securities on December 04, 2024, Alector Inc [ALEC] has been rated down from a Neutral to an Underperform and the price target has been revised to $1 from $9. Analysts at H.C. Wainwright resumed the stock at ‘”a Buy”‘ outlook in a report released in late November. As of November 26, 2024, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for ALEC. Earlier on December 14, 2023, Stifel upgraded its rating. Their new recommendation was “a Buy” for ALEC stock which previously was a “a Hold”.
Analyzing ALEC Stock Performance
During the last five days, there has been a drop of approximately -14.79%. Over the course of the year, Alector Inc shares have dropped approximately -72.56%. Shares of the company reached a 52-week high of $8.90 on 01/09/24 and a 52-week low of $2.14 on 12/04/24. A 50-day SMA is recorded $4.50, while a 200-day SMA reached $5.23. Nevertheless, trading volume fell to 3.44 million shares from 2.8 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 2.08, which, if violated, would cause prices to drop to 1.97. In the upper region, resistance lies at 2.36. The next price resistance is at 2.52. RSI (Relative Strength Index) is 24.32 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.94, which suggests the price will decrease in the coming days. Percent R is at 98.34%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
