Alector, Inc. (NASDAQ:ALEC) Receives Consensus Recommendation of “Hold” from Analysts

by · The Markets Daily

Alector, Inc. (NASDAQ:ALEC – Get Free Report) has received a consensus rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $3.6250.

Separately, Weiss Ratings upgraded shares of Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th.

Read Our Latest Analysis on ALEC

Alector Stock Performance

NASDAQ ALEC opened at $2.14 on Monday. The firm has a 50 day simple moving average of $1.93 and a 200-day simple moving average of $2.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26. Alector has a one year low of $1.09 and a one year high of $3.40. The firm has a market cap of $238.95 million, a price-to-earnings ratio of -1.95 and a beta of 0.65.

Alector (NASDAQ:ALEC – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.02. The firm had revenue of $3.32 million for the quarter, compared to the consensus estimate of $1.71 million. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. Equities research analysts anticipate that Alector will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Arnon Rosenthal sold 72,606 shares of Alector stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total value of $193,131.96. Following the completion of the transaction, the chief executive officer directly owned 2,294,600 shares in the company, valued at approximately $6,103,636. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Neil Berkley sold 29,251 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total value of $77,807.66. Following the transaction, the chief financial officer directly owned 350,649 shares of the company’s stock, valued at $932,726.34. The trade was a 7.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 111,303 shares of company stock valued at $295,633. 8.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alector

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Alector in the second quarter valued at approximately $15,774,000. Nantahala Capital Management LLC acquired a new position in Alector during the 2nd quarter worth approximately $8,679,399. Foresite Capital Management IV LLC purchased a new stake in shares of Alector in the 4th quarter valued at approximately $6,064,000. Merck & Co. Inc. purchased a new stake in shares of Alector in the 2nd quarter valued at approximately $7,126,896. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Alector in the 4th quarter valued at $5,094,000. 85.83% of the stock is owned by institutional investors and hedge funds.

About Alector

(Get Free Report)

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.

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