Alector, Inc. (NASDAQ:ALEC) Receives $3.25 Consensus PT from Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.25.

A number of research firms have recently weighed in on ALEC. Morgan Stanley restated an “underweight” rating on shares of Alector in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alector in a research report on Wednesday, January 21st. Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, BTIG Research raised shares of Alector from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th.

Alector Trading Down 1.0%

Shares of Alector stock opened at $1.99 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.76 and a current ratio of 3.76. The stock has a 50 day moving average price of $1.76 and a two-hundred day moving average price of $2.02. Alector has a 52 week low of $0.87 and a 52 week high of $3.40. The stock has a market capitalization of $217.21 million, a PE ratio of -1.86 and a beta of 0.64.

Insider Buying and Selling at Alector

In related news, CEO Arnon Rosenthal sold 104,347 shares of Alector stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total value of $116,868.64. Following the sale, the chief executive officer owned 2,420,040 shares of the company’s stock, valued at approximately $2,710,444.80. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sara Kenkare-Mitra sold 41,687 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total value of $46,689.44. Following the completion of the transaction, the insider owned 501,652 shares in the company, valued at approximately $561,850.24. The trade was a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 196,104 shares of company stock worth $220,064 over the last three months. 9.70% of the stock is currently owned by insiders.

Institutional Trading of Alector

Large investors have recently bought and sold shares of the company. Foresite Capital Management IV LLC bought a new stake in Alector in the 4th quarter valued at about $6,064,000. Balyasny Asset Management L.P. purchased a new position in shares of Alector in the fourth quarter worth about $5,094,000. 683 Capital Management LLC increased its stake in shares of Alector by 235.0% in the fourth quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock worth $5,226,000 after purchasing an additional 2,350,000 shares in the last quarter. Ikarian Capital LLC raised its position in shares of Alector by 174.0% in the fourth quarter. Ikarian Capital LLC now owns 2,082,606 shares of the company’s stock valued at $3,249,000 after purchasing an additional 1,322,606 shares during the period. Finally, Spruce Street Capital LP bought a new stake in shares of Alector in the fourth quarter valued at approximately $1,744,000. 85.83% of the stock is owned by hedge funds and other institutional investors.

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.