HC Wainwright Lowers Alector (NASDAQ:ALEC) Price Target to $7.00

Alector (NASDAQ:ALEC) had its target price cut by HC Wainwright from $35.00 to $7.00 in a research note issued to investors on Friday, MarketBeat reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Alector’s Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.42) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.66) EPS, FY2026 earnings at ($1.60) EPS, FY2027 earnings at ($0.76) EPS and FY2028 earnings at ($0.39) EPS.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley downgraded Alector from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Finally, BTIG Research dropped their price objective on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.40.

Alector Price Performance

Shares of NASDAQ ALEC opened at $2.59 on Friday. The company has a 50-day simple moving average of $4.62 and a 200-day simple moving average of $4.98. The company has a market cap of $253.65 million, a PE ratio of -1.52 and a beta of 0.66. Alector has a 12 month low of $2.37 and a 12 month high of $8.90.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. The firm had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. On average, analysts anticipate that Alector will post -1.86 EPS for the current year.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at $9,509,880.48. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. This represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,722 shares of company stock valued at $232,883. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alector

Several institutional investors have recently bought and sold shares of ALEC. Gladius Capital Management LP purchased a new position in shares of Alector in the 2nd quarter valued at $29,000. Point72 DIFC Ltd purchased a new stake in Alector during the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Alector in the 3rd quarter valued at $40,000. nVerses Capital LLC purchased a new position in Alector in the third quarter valued at about $51,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Alector during the first quarter worth about $59,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

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.