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

Alector, Inc. (NASDAQ:ALEC) has earned an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $3.75.

Several analysts have weighed in on the stock. Morgan Stanley downgraded 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 note on Tuesday, November 26th. Bank of America cut shares of Alector from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Stifel Nicolaus lowered shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a report on Monday, December 16th. HC Wainwright reduced 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th.

Insider Activity at Alector

In related news, CFO Marc Grasso sold 16,489 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $41,552.28. Following the transaction, the chief financial officer now directly owns 330,651 shares of the company’s stock, valued at approximately $833,240.52. This represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sara Kenkare-Mitra sold 26,500 shares of Alector stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the sale, 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 position. 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 90 days. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. boosted its stake in shares of Alector by 4.1% in the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after buying an additional 2,709 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of Alector by 2.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock valued at $589,000 after purchasing an additional 3,500 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Alector by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after purchasing an additional 3,790 shares during the last quarter. Caxton Associates LP boosted its holdings in shares of Alector by 41.3% in the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after buying an additional 5,933 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Alector during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Stock Performance

Shares of NASDAQ:ALEC opened at $1.71 on Wednesday. The firm has a fifty day moving average of $2.54 and a 200 day moving average of $4.29. Alector has a 52-week low of $1.60 and a 52-week high of $7.58. The firm has a market capitalization of $167.46 million, a PE ratio of -1.01 and a beta of 0.57.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. On average, sell-side analysts forecast that Alector will post -1.88 EPS for the current fiscal year.

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.