Alector (NASDAQ:ALEC) Given New $35.00 Price Target at HC Wainwright

Alector (NASDAQ:ALEC) had its price objective lowered by stock analysts at HC Wainwright from $41.00 to $35.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Alector has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Alector Stock Up 0.2 %

Shares of NASDAQ:ALEC traded up $0.01 on Thursday, hitting $5.20. 592,056 shares of the company traded hands, compared to its average volume of 651,859. Alector has a 52 week low of $3.66 and a 52 week high of $9.06. The stock has a 50 day simple moving average of $5.86 and a 200-day simple moving average of $6.13. The company has a market cap of $501.23 million, a PE ratio of -3.35 and a beta of 0.82.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.31. Alector had a negative net margin of 134.34% and a negative return on equity of 77.15%. The business had revenue of $15.19 million during the quarter, compared to analysts’ expectations of $8.35 million. As a group, sell-side analysts anticipate that Alector will post -1.89 earnings per share for the current year.

Insider Transactions at Alector

In other Alector news, CFO Marc Grasso sold 5,716 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $39,554.72. Following the completion of the sale, the chief financial officer now owns 144,957 shares in the company, valued at approximately $1,003,102.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Marc Grasso sold 5,716 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $39,554.72. Following the sale, the chief financial officer now owns 144,957 shares of the company’s stock, valued at $1,003,102.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gary Romano sold 6,001 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $41,526.92. Following the completion of the sale, the insider now owns 196,313 shares of the company’s stock, valued at $1,358,485.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,554 shares of company stock valued at $211,434. 14.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alector

Several institutional investors and hedge funds have recently made changes to their positions in ALEC. Allspring Global Investments Holdings LLC bought a new stake in Alector during the first quarter worth $40,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Alector by 352.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after buying an additional 7,584 shares during the period. E Fund Management Co. Ltd. purchased a new position in Alector during the 4th quarter valued at $81,000. Jasper Ridge Partners L.P. bought a new stake in shares of Alector during the 3rd quarter valued at $95,000. Finally, Blackstone Inc. boosted its stake in Alector by 50.0% in the 3rd quarter. Blackstone Inc. now owns 15,429 shares of the company’s stock worth $100,000 after purchasing an additional 5,143 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

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.