Alector’s (ALEC) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Alector (NASDAQ:ALEC) in a research note published on Tuesday,Benzinga reports.

ALEC has been the subject of several other research reports. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $10.00 to $3.00 in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Alector in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.00.

Alector Price Performance

Alector stock opened at $2.57 on Tuesday. The stock has a market cap of $251.68 million, a price-to-earnings ratio of -1.52 and a beta of 0.66. Alector has a 1 year low of $2.37 and a 1 year high of $8.90. The firm has a 50-day moving average of $4.88 and a two-hundred day moving average of $5.06.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The firm had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million. Research analysts expect that Alector will post -1.87 earnings per share for the current year.

Insider Activity at Alector

In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the 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 $67,958.88. Following the completion of the sale, the insider now owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the 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 sale, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,722 shares of company stock valued at $232,883 over the last 90 days. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of Alector by 132.4% in the third quarter. Barclays PLC now owns 176,800 shares of the company’s stock worth $824,000 after buying an additional 100,731 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alector by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after buying an additional 148,357 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Alector by 24.2% in the third quarter. Jane Street Group LLC now owns 154,942 shares of the company’s stock worth $722,000 after buying an additional 30,180 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Alector in the third quarter worth $639,000. Finally, Sphera Funds Management LTD. raised its holdings in shares of Alector by 1.6% in the third quarter. Sphera Funds Management LTD. now owns 620,000 shares of the company’s stock worth $2,889,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

About Alector

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.