Alector (NASDAQ:ALEC) Shares Up 7.9% – What’s Next?

Alector, Inc. (NASDAQ:ALEC) traded up 7.9% during trading on Wednesday . The stock traded as high as $1.53 and last traded at $1.50. 719,640 shares were traded during trading, a decline of 17% from the average daily volume of 864,624 shares. The stock had previously closed at $1.39.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ALEC shares. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target on shares of Alector in a report on Monday, May 4th. Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a research report on Monday, May 4th. Finally, Cantor Fitzgerald raised Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.62.

Alector Trading Up 2.4%

The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.25 and a current ratio of 5.25. The stock has a market cap of $167.10 million, a price-to-earnings ratio of -1.26 and a beta of 0.60. The business has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $2.03.

Alector (NASDAQ:ALEC) last announced its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.08. The firm had revenue of $1.05 million during the quarter, compared to the consensus estimate of $9.67 million. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. As a group, equities analysts anticipate that Alector, Inc. will post -0.86 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $38,139.20. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $171,815.52. Following the sale, the chief executive officer directly owned 2,367,206 shares of the company’s stock, valued at approximately $4,663,395.82. This trade represents a 3.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 115,760 shares of company stock valued at $227,734. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Alector

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its position in Alector by 4.7% in the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after purchasing an additional 11,618 shares during the period. Strs Ohio bought a new position in Alector during the 1st quarter valued at $126,000. Geode Capital Management LLC grew its stake in Alector by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock worth $2,775,000 after purchasing an additional 19,970 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Alector in the 2nd quarter worth approximately $30,000. Finally, XTX Topco Ltd boosted its holdings in Alector by 125.2% in the second quarter. XTX Topco Ltd now owns 73,338 shares of the company’s stock worth $103,000 after purchasing an additional 40,767 shares during the period. Hedge funds and other institutional investors own 85.83% of the company’s stock.

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.