Alector, Inc. (NASDAQ:ALEC) Stock Has Consensus Price Target of $4.62 According to Analysts

Alector, Inc. (NASDAQ:ALEC) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.62.

A number of research analysts have recently issued reports on ALEC shares. UBS Group reissued a “neutral” rating and issued a $1.50 price objective on shares of Alector in a research note on Tuesday, October 6th. Morgan Stanley upped their target price on Alector from $2.00 to $3.00 and gave the company an “underweight” rating in a research report on Tuesday, October 6th. HC Wainwright raised their target price on Alector from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, Weiss Ratings upgraded Alector from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th.

Alector Trading Down 0.4%

ALEC stock opened at $2.24 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26. Alector has a 12-month low of $1.09 and a 12-month high of $2.76. The company’s fifty day simple moving average is $2.08 and its 200 day simple moving average is $2.02.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. The business had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $1.71 million. As a group, research analysts predict that Alector will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Alector

In other news, CFO Neil Berkley sold 29,251 shares of Alector stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total value of $77,807.66. Following the completion of the sale, the chief financial officer owned 350,649 shares in the company, valued at $932,726.34. The trade was a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arnon Rosenthal sold 72,606 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $193,131.96. Following the transaction, the chief executive officer owned 2,294,600 shares in the company, valued at $6,103,636. The trade was a 3.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,303 shares of company stock valued at $295,633 in the last quarter. 8.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alector

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Alector in the 2nd quarter valued at about $15,774,000. Nantahala Capital Management LLC bought a new position in Alector in the second quarter worth approximately $8,679,399. Merck & Co. Inc. bought a new position in Alector in the second quarter worth approximately $7,126,896. ADAR1 Capital Management LLC bought a new position in Alector in the second quarter worth approximately $5,796,000. Finally, Spruce Street Capital LP acquired a new stake in Alector in the second quarter valued at approximately $4,223,147. 85.83% of the stock is owned by institutional investors.

About Alector

Alector, Inc (NASDAQ: ALEC) is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company’s research platform, known as immuno-neurology, is designed to use the body’s immune system to protect or restore the brain’s ability to maintain healthy neural connections.

Alector’s investigational pipeline has included antibody-based treatments for conditions such as frontotemporal dementia and Alzheimer’s disease. Its programs have targeted biological pathways associated with neurodegeneration, including progranulin and TREM2.