Alector (NASDAQ:ALEC) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Alector (NASDAQ:ALEC) in a report released on Tuesday morning, Benzinga reports.

Separately, HC Wainwright restated a buy rating and set a $35.00 price target on shares of Alector in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $14.67.

Alector Stock Up 8.9 %

Shares of NASDAQ ALEC opened at $6.14 on Tuesday. The company has a market capitalization of $591.80 million, a PE ratio of -4.45 and a beta of 0.68. The stock’s 50 day moving average price is $5.51 and its 200-day moving average price is $5.39. Alector has a twelve month low of $3.66 and a twelve month high of $8.90.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.02 earnings per share. As a group, research analysts expect that Alector will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling at Alector

In other news, Director Paula Hammond sold 10,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.06, for a total transaction of $53,130.00. Following the completion of the transaction, the director now owns 60,209 shares in the company, valued at approximately $304,657.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.06, for a total transaction of $53,130.00. Following the sale, the director now directly owns 60,209 shares in the company, valued at approximately $304,657.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’s 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 $129,315.12. Following the completion of the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock worth $286,013 over the last ninety days. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alector

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Alector by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after purchasing an additional 526,037 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Alector by 211.6% during the first quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after buying an additional 301,936 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Alector in the fourth quarter worth about $1,920,000. Panagora Asset Management Inc. boosted its position in shares of Alector by 61.7% in the second quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after acquiring an additional 135,614 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Alector by 16.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 922,799 shares of the company’s stock valued at $5,555,000 after acquiring an additional 128,515 shares during the period. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

About Alector

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.