Brokerages Set Alector, Inc. (NASDAQ:ALEC) PT at $14.00

Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $14.00.

Several analysts have recently weighed in on ALEC shares. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Alector in a research report on Thursday, June 20th.

Alector Stock Performance

Alector stock opened at $4.54 on Thursday. The firm’s fifty day moving average price is $4.96 and its 200-day moving average price is $6.04. The stock has a market cap of $437.61 million, a P/E ratio of -3.29 and a beta of 0.77. Alector has a fifty-two week low of $3.66 and a fifty-two week high of $9.06.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.10. The firm had revenue of $15.89 million for the quarter, compared to analysts’ expectations of $14.63 million. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. On average, analysts predict that Alector will post -1.93 earnings per share for the current year.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $120,648.00. Following the transaction, the chief executive officer now owns 1,975,245 shares in the company, valued at $9,481,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alector news, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $120,648.00. Following the transaction, the chief executive officer now owns 1,975,245 shares in the company, valued at $9,481,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marc Grasso sold 6,920 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $33,216.00. Following the completion of the transaction, the chief financial officer now owns 138,037 shares in the company, valued at approximately $662,577.60. The disclosure for this sale can be found here. Insiders have sold a total of 40,095 shares of company stock worth $192,456 in the last 90 days. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alector

A number of hedge funds have recently modified their holdings of ALEC. Allspring Global Investments Holdings LLC purchased a new position in shares of Alector in the first quarter valued at about $40,000. Lazard Asset Management LLC bought a new stake in shares of Alector during the 1st quarter valued at about $59,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Alector by 352.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock valued at $78,000 after purchasing an additional 7,584 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Alector during the 4th quarter valued at about $81,000. Finally, Jasper Ridge Partners L.P. bought a new stake in shares of Alector during the 3rd quarter valued at about $95,000. Hedge funds and other institutional investors 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.