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

by · The Markets Daily

Shares of Alector, Inc. (NASDAQ:ALEC – Get Free Report) have earned an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $3.75.

Several research firms recently weighed in on ALEC. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $10.00 to $3.00 in a research report on Tuesday, November 26th. BTIG Research dropped their target price on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. HC Wainwright decreased their price target on Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Mizuho cut Alector from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $2.50 in a report on Tuesday. Finally, Stifel Nicolaus lowered shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research note on Monday, December 16th.

Check Out Our Latest Research Report on Alector

Insider Activity

In related news, CEO Arnon Rosenthal sold 52,172 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $131,473.44. Following the sale, the chief executive officer now owns 2,507,074 shares of the company’s stock, valued at approximately $6,317,826.48. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the transaction, the insider now directly owns 565,215 shares of the company’s stock, valued at approximately $1,424,341.80. The trade was a 4.48 % 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 valued at $239,806 in the last ninety days. 9.10% of the stock is owned by insiders.

Institutional Trading of Alector

Several hedge funds have recently bought and sold shares of ALEC. Cubist Systematic Strategies LLC boosted its position in shares of Alector by 73.1% during the second quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock worth $419,000 after buying an additional 38,947 shares during the period. Creative Planning boosted its position in Alector by 54.2% during the 3rd quarter. Creative Planning now owns 19,117 shares of the company’s stock worth $89,000 after acquiring an additional 6,723 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Alector during the 3rd quarter worth approximately $90,000. Acadian Asset Management LLC raised its holdings in shares of Alector by 32.8% in the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock valued at $2,681,000 after purchasing an additional 146,015 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted 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 worth $1,613,000 after purchasing an additional 135,614 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Stock Performance

Shares of ALEC opened at $1.86 on Friday. The company has a market cap of $182.16 million, a price-to-earnings ratio of -1.09 and a beta of 0.51. The stock has a fifty day moving average price of $3.82 and a two-hundred day moving average price of $4.66. Alector has a 52-week low of $1.73 and a 52-week high of $8.90.

Alector (NASDAQ:ALEC – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The business had revenue of $15.34 million during 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, research analysts predict that Alector will post -1.85 EPS for the current fiscal year.

About Alector

(Get Free Report

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.

Featured Stories