Alector, Inc. (NASDAQ:ALEC) Given Average Rating of “Hold” by Brokerages

Alector, Inc. (NASDAQ:ALEC) has been assigned a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.75.

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. HC Wainwright reduced their price target on shares of Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a research report on Monday, December 16th. Finally, BTIG Research dropped their target price on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th.

Alector Price Performance

NASDAQ:ALEC opened at $1.64 on Wednesday. The company’s 50-day moving average is $2.77 and its two-hundred day moving average is $4.35. Alector has a 1-year low of $1.61 and a 1-year high of $7.78. The firm has a market capitalization of $160.12 million, a price-to-earnings ratio of -0.96 and a beta of 0.57.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The firm had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. As a group, equities analysts anticipate that Alector will post -1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Marc Grasso sold 16,489 shares of Alector stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $41,552.28. Following the completion of the transaction, the chief financial officer now owns 330,651 shares in the company, valued at $833,240.52. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares in the company, valued at approximately $6,317,826.48. This represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,161 shares of company stock worth $239,806 over the last 90 days. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in Alector by 4.1% in the second quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock valued at $311,000 after buying an additional 2,709 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in shares of Alector by 2.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after acquiring an additional 3,500 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Alector by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after acquiring an additional 3,790 shares during the last quarter. Caxton Associates LP raised its position in shares of Alector by 41.3% during the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after acquiring an additional 5,933 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Alector during the third quarter worth approximately $29,000. 85.83% of the stock is owned by hedge funds and other institutional investors.

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.