Alector, Inc. (NASDAQ:ALEC) Receives $3.25 Average PT from Brokerages

Alector, Inc. (NASDAQ:ALEC) has earned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $3.25.

ALEC has been the topic of several research reports. Morgan Stanley restated an “underweight” rating on shares of Alector in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Alector from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alector in a report on Wednesday, January 21st. TD Cowen lowered shares of Alector to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Mizuho set a $1.50 target price on shares of Alector and gave the company a “neutral” rating in a research note on Wednesday, October 22nd.

Alector Price Performance

Alector stock opened at $1.95 on Friday. The firm has a market capitalization of $212.84 million, a PE ratio of -1.82 and a beta of 0.61. Alector has a 52 week low of $0.87 and a 52 week high of $3.40. The firm’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.98. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.17.

Alector (NASDAQ:ALEC) last released its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08. The company had revenue of $3.26 million for the quarter, compared to analyst estimates of $3.49 million. Alector had a negative net margin of 156.03% and a negative return on equity of 123.02%. On average, equities research analysts predict that Alector will post -1.88 EPS for the current fiscal year.

Insider Buying and Selling at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 41,687 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $46,689.44. Following the completion of the sale, the insider owned 501,652 shares in the company, valued at $561,850.24. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 104,347 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total transaction of $116,868.64. Following the sale, the chief executive officer owned 2,420,040 shares in the company, valued at approximately $2,710,444.80. This trade represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 196,104 shares of company stock worth $220,064 in the last ninety days. 9.70% of the stock is owned by insiders.

Institutional Trading of Alector

Large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC lifted its stake in shares of Alector by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock worth $28,000 after acquiring an additional 10,000 shares during the period. Pinegrove Venture Partners LLC acquired a new position in shares of Alector during the 3rd quarter valued at $30,000. Lexington Partners L.P. bought a new stake in shares of Alector in the 3rd quarter worth $30,000. Prudential Financial Inc. bought a new stake in shares of Alector in the 2nd quarter worth $30,000. Finally, Belvedere Trading LLC acquired a new stake in shares of Alector in the third quarter valued at $31,000. 85.83% of the stock is currently owned by institutional investors and hedge funds.

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.