Brokerages Set Alector, Inc. (NASDAQ:ALEC) PT at $3.75

Alector, Inc. (NASDAQ:ALEC) has received a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.75.

Several research firms recently commented on ALEC. HC Wainwright decreased their price target on shares of Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a report on Monday, December 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $9.00 to $1.00 in a report on Wednesday, December 4th. Finally, Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $10.00 to $3.00 in a report on Tuesday, November 26th.

Alector Stock Up 1.8 %

Shares of NASDAQ:ALEC opened at $1.71 on Wednesday. Alector has a 12-month low of $1.60 and a 12-month high of $7.58. The business has a 50 day moving average of $2.54 and a 200-day moving average of $4.29. The stock has a market cap of $167.47 million, a PE ratio of -1.01 and a beta of 0.57.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The business had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Equities research analysts expect that Alector will post -1.88 earnings per share for the current year.

Insider Buying and Selling at Alector

In other news, insider Sara Kenkare-Mitra sold 26,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the sale, the insider now directly owns 565,215 shares in the company, valued at approximately $1,424,341.80. This trade represents a 4.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the sale, the chief executive officer now directly owns 2,507,074 shares in the company, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,161 shares of company stock worth $239,806 over the last three months. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Alector by 64.7% during the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock worth $12,716,000 after buying an additional 1,072,298 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Alector by 18.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock worth $4,742,000 after acquiring an additional 159,111 shares during the last quarter. Geode Capital Management LLC increased its holdings in Alector by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after purchasing an additional 148,357 shares in the last quarter. FMR LLC raised its position in Alector by 1.0% in the third quarter. FMR LLC now owns 14,595,014 shares of the company’s stock valued at $68,013,000 after purchasing an additional 137,794 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Alector during the third quarter valued at about $639,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

About Alector

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.