Alector, Inc. (NASDAQ:ALEC) Receives $4.17 Average PT from Brokerages

Alector, Inc. (NASDAQ:ALEC) has earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $4.1667.

ALEC has been the subject of a number of analyst reports. Wall Street Zen lowered Alector from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alector in a research report on Wednesday, January 21st. Morgan Stanley reissued an “underweight” rating on shares of Alector in a research note on Thursday, January 8th. Finally, BTIG Research raised Alector from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Tuesday, March 10th.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Alector during the fourth quarter worth about $34,000. Invesco Ltd. grew its stake in shares of Alector by 45.3% in the 4th quarter. Invesco Ltd. now owns 279,468 shares of the company’s stock valued at $436,000 after buying an additional 87,157 shares during the period. Mackenzie Financial Corp grew its stake in shares of Alector by 132.7% in the 4th quarter. Mackenzie Financial Corp now owns 660,168 shares of the company’s stock valued at $1,001,000 after buying an additional 376,456 shares during the period. XTX Topco Ltd increased its holdings in shares of Alector by 501.8% during the 4th quarter. XTX Topco Ltd now owns 592,839 shares of the company’s stock worth $925,000 after buying an additional 494,326 shares during the last quarter. Finally, Ikarian Capital LLC increased its holdings in shares of Alector by 174.0% during the 4th quarter. Ikarian Capital LLC now owns 2,082,606 shares of the company’s stock worth $3,249,000 after buying an additional 1,322,606 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Stock Performance

NASDAQ:ALEC opened at $2.05 on Monday. The company has a market cap of $226.24 million, a P/E ratio of -1.47 and a beta of 0.57. Alector has a twelve month low of $0.87 and a twelve month high of $3.40. The company’s 50-day moving average price is $2.03 and its 200-day moving average price is $2.01. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.30.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Alector had a negative net margin of 679.16% and a negative return on equity of 224.96%. The company had revenue of $6.24 million during the quarter, compared to the consensus estimate of $1.78 million. On average, sell-side analysts forecast that Alector will post -1.88 earnings per share for the current fiscal year.

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.