Alector (NASDAQ:ALEC) Trading Down 2.5% – Here’s What Happened

Alector, Inc. (NASDAQ:ALEC)’s stock price traded down 2.5% on Monday . The stock traded as low as $2.33 and last traded at $2.35. 582,330 shares traded hands during trading, a decline of 32% from the average session volume of 854,384 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALEC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alector in a research report on Wednesday, January 21st. BTIG Research raised Alector from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Tuesday, March 10th. Wall Street Zen lowered Alector from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Alector in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alector has a consensus rating of “Hold” and a consensus target price of $4.17.

Alector Stock Down 2.5%

The stock has a 50-day moving average of $2.10 and a two-hundred day moving average of $1.96. The company has a market cap of $259.35 million, a P/E ratio of -1.69 and a beta of 0.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.83 and a current ratio of 3.83.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. The business had revenue of $6.24 million for the quarter, compared to analysts’ expectations of $1.78 million. Alector had a negative return on equity of 224.96% and a negative net margin of 679.16%. On average, research analysts anticipate that Alector, Inc. will post -1.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALEC. Bank of America Corp DE grew its stake in shares of Alector by 1.8% in the second quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock worth $481,000 after acquiring an additional 5,927 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Alector by 3.4% in the third quarter. Mackenzie Financial Corp now owns 283,712 shares of the company’s stock worth $840,000 after acquiring an additional 9,270 shares during the last quarter. Lexington Partners L.P. purchased a new stake in shares of Alector in the third quarter worth $30,000. Pinegrove Venture Partners LLC purchased a new stake in shares of Alector in the third quarter worth $30,000. Finally, Hershey Trust Co. grew its stake in shares of Alector by 100.0% in the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after acquiring an additional 10,286 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other 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.