Alector, Inc. (NASDAQ:ALEC) Receives Average Rating of “Hold” from Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.6250.

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price target on shares of Alector in a report on Monday, May 4th. BTIG Research raised shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Tuesday, March 10th. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alector in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th.

Alector Trading Down 3.4%

Shares of Alector stock opened at $2.01 on Wednesday. The firm has a market capitalization of $223.17 million, a PE ratio of -1.69 and a beta of 0.61. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $2.05 and its 200 day moving average is $2.00. Alector has a 1 year low of $1.09 and a 1 year high of $3.40.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.08. The company had revenue of $1.05 million for the quarter, compared to analyst estimates of $9.67 million. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. Equities research analysts forecast that Alector will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $171,815.52. Following the sale, the chief executive officer directly owned 2,367,206 shares of the company’s stock, valued at $4,663,395.82. The trade was a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $38,139.20. Following the sale, the chief financial officer directly owned 379,900 shares in the company, valued at $748,403. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 117,580 shares of company stock worth $232,557 over the last three months. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Alector by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock valued at $481,000 after purchasing an additional 5,927 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Alector by 3.4% during the 3rd quarter. Mackenzie Financial Corp now owns 283,712 shares of the company’s stock valued at $840,000 after acquiring an additional 9,270 shares during the period. Hershey Trust Co. raised its holdings in Alector by 100.0% during the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after buying an additional 10,286 shares during the last quarter. Jane Street Group LLC raised its holdings in Alector by 4.7% during the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock worth $316,000 after buying an additional 11,618 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in Alector by 83.6% during the first quarter. Diversified Trust Co now owns 25,895 shares of the company’s stock worth $56,000 after buying an additional 11,793 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.