Alector (NASDAQ:ALEC) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Alector (NASDAQ:ALEC) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $35.00 price target on the stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.75.

Alector Trading Up 1.8 %

Shares of ALEC stock traded up $0.10 during trading on Thursday, reaching $5.74. The company’s stock had a trading volume of 491,788 shares, compared to its average volume of 621,170. Alector has a 1-year low of $3.66 and a 1-year high of $8.90. The stock’s 50-day moving average price is $5.06 and its 200 day moving average price is $5.12.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The business had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.04 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Equities research analysts predict that Alector will post -1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Arnon Rosenthal sold 26,499 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the sale, the chief executive officer now owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at approximately $638,011.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock valued at $286,013 in the last ninety days. Insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

A number of large investors have recently bought and sold shares of ALEC. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alector in the first quarter valued at about $40,000. Swiss National Bank lifted its position in Alector by 6.5% during the 1st quarter. Swiss National Bank now owns 131,900 shares of the company’s stock worth $794,000 after acquiring an additional 8,000 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Alector in the 1st quarter valued at approximately $760,000. Russell Investments Group Ltd. increased its holdings in shares of Alector by 9.9% in the first quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock valued at $472,000 after purchasing an additional 7,066 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after purchasing an additional 3,827 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Company Profile

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.