Alector (NASDAQ:ALEC) Raised to Hold at Wall Street Zen

by · The Markets Daily

Alector (NASDAQ:ALEC – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also commented on ALEC. Morgan Stanley reaffirmed an “underweight” rating on shares of Alector in a research note on Thursday, January 8th. BTIG Research raised Alector from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alector has a consensus rating of “Hold” and an average price target of $3.25.

Check Out Our Latest Stock Report on Alector

Alector Stock Down 1.0%

Shares of ALEC opened at $1.99 on Friday. The stock’s 50-day moving average price is $1.76 and its two-hundred day moving average price is $2.02. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $217.21 million, a PE ratio of -1.86 and a beta of 0.64. Alector has a 12 month low of $0.87 and a 12 month high of $3.40.

Insider Transactions at Alector

In related news, insider Sara Kenkare-Mitra sold 41,687 shares of Alector stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total value of $46,689.44. Following the sale, the insider owned 501,652 shares of the company’s stock, valued at approximately $561,850.24. The trade was a 7.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Neil Lindsay Berkley sold 37,261 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total value of $41,732.32. Following the completion of the sale, the chief financial officer owned 374,309 shares in the company, valued at approximately $419,226.08. The trade was a 9.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 196,104 shares of company stock worth $220,064 in the last quarter. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Alector

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in Alector by 45.3% during the fourth quarter. Invesco Ltd. now owns 279,468 shares of the company’s stock worth $436,000 after purchasing an additional 87,157 shares during the period. Mackenzie Financial Corp raised its position in shares of Alector by 132.7% in the fourth quarter. Mackenzie Financial Corp now owns 660,168 shares of the company’s stock valued at $1,001,000 after purchasing an additional 376,456 shares during the period. XTX Topco Ltd lifted its stake in shares of Alector by 501.8% during the 4th quarter. XTX Topco Ltd now owns 592,839 shares of the company’s stock valued at $925,000 after buying an additional 494,326 shares in the last quarter. Ikarian Capital LLC boosted its holdings in Alector by 174.0% in the 4th quarter. Ikarian Capital LLC now owns 2,082,606 shares of the company’s stock worth $3,249,000 after buying an additional 1,322,606 shares during the period. Finally, Utah Retirement Systems boosted its holdings in Alector by 85.7% in the 4th quarter. Utah Retirement Systems now owns 133,718 shares of the company’s stock worth $209,000 after buying an additional 61,716 shares during the period. 85.83% of the stock is currently owned by institutional investors.

Alector Company Profile

(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.

Featured Stories