Alector (NASDAQ:ALEC) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Alector (NASDAQ:ALEC) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

ALEC has been the topic of a number of other reports. Citigroup started coverage on shares of Alector in a report on Thursday, March 5th. They set a buy rating on the stock. Zacks Investment Research downgraded shares of Alector from a buy rating to a hold rating in a research report on Tuesday, April 28th. HC Wainwright began coverage on shares of Alector in a research report on Wednesday, June 24th. They issued a buy rating and a $41.00 price target on the stock. ValuEngine upgraded shares of Alector from a sell rating to a hold rating in a research report on Tuesday, March 3rd. Finally, Morgan Stanley boosted their price target on shares of Alector from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, June 4th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Alector currently has an average rating of Buy and an average price target of $31.60.

ALEC opened at $23.50 on Tuesday. Alector has a fifty-two week low of $13.64 and a fifty-two week high of $35.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.75 and a quick ratio of 7.75. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -12.98 and a beta of 1.01. The company’s 50 day moving average price is $29.94 and its two-hundred day moving average price is $25.74.

Alector (NASDAQ:ALEC) last posted its earnings results on Wednesday, May 13th. The company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.10). Alector had a negative return on equity of 48.29% and a negative net margin of 556.70%. The business had revenue of $7.17 million for the quarter, compared to the consensus estimate of $10.60 million. As a group, equities research analysts predict that Alector will post -2.17 EPS for the current year.

In related news, insider Robert Paul sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $22.27, for a total transaction of $222,700.00. Following the transaction, the insider now owns 243,719 shares in the company, valued at approximately $5,427,622.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Terrance Mcguire sold 4,377 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $31.54, for a total transaction of $138,050.58. The disclosure for this sale can be found here. Insiders have sold a total of 408,405 shares of company stock worth $9,774,142 in the last quarter. 13.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC lifted its position in shares of Alector by 23.3% during the 1st quarter. Nuveen Asset Management LLC now owns 142,339 shares of the company’s stock valued at $3,435,000 after acquiring an additional 26,876 shares during the period. Deutsche Bank AG raised its holdings in Alector by 490.6% during the first quarter. Deutsche Bank AG now owns 65,683 shares of the company’s stock worth $1,585,000 after buying an additional 54,561 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Alector by 275.2% during the first quarter. BNP Paribas Arbitrage SA now owns 15,914 shares of the company’s stock worth $384,000 after buying an additional 11,672 shares during the last quarter. US Bancorp DE raised its holdings in Alector by 460.0% during the first quarter. US Bancorp DE now owns 2,800 shares of the company’s stock worth $68,000 after buying an additional 2,300 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Alector by 33.1% during the first quarter. Rhumbline Advisers now owns 43,833 shares of the company’s stock worth $1,058,000 after buying an additional 10,896 shares during the last quarter. Institutional investors own 59.48% of the company’s stock.

Alector Company Profile

Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.

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Analyst Recommendations for Alector (NASDAQ:ALEC)

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