Alector, Inc. (NASDAQ:ALEC) Receives $3.62 Consensus PT from Analysts

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

Several brokerages have issued reports on ALEC. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 target price on shares of Alector in a report on Monday, May 4th. Finally, Weiss Ratings raised Alector from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th.

Insider Activity at Alector

In other Alector news, CEO Arnon Rosenthal sold 87,216 shares of the company’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 $171,815.52. Following the completion of the sale, the chief executive officer directly owned 2,367,206 shares of the company’s stock, valued at $4,663,395.82. This represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $38,139.20. Following the sale, the chief financial officer directly owned 379,900 shares of the company’s stock, valued at $748,403. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 115,760 shares of company stock valued at $227,734. 8.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alector

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Alector in the 2nd quarter valued at $15,774,000. Nantahala Capital Management LLC acquired a new stake in shares of Alector in the 2nd quarter worth $8,679,399,000. Foresite Capital Management IV LLC acquired a new stake in shares of Alector in the 4th quarter worth $6,064,000. Merck & Co. Inc. purchased a new stake in shares of Alector in the second quarter valued at about $7,126,896,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Alector in the fourth quarter valued at about $5,094,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Stock Performance

Shares of ALEC opened at $2.43 on Thursday. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.80. The firm has a market cap of $271.33 million, a PE ratio of -2.21 and a beta of 0.60. The company’s 50 day simple moving average is $1.73 and its 200-day simple moving average is $2.02. Alector has a 12-month low of $1.09 and a 12-month high of $3.40.

Alector (NASDAQ:ALEC) last announced its 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, equities analysts predict that Alector will post -0.87 EPS for the current year.

Alector Company Profile

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.