Alector (NASDAQ:ALEC) Stock Rating Reaffirmed by Cantor Fitzgerald

Alector (NASDAQ:ALEC)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Alector in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Alector Trading Up 9.5 %

Shares of Alector stock opened at $5.77 on Monday. Alector has a twelve month low of $3.66 and a twelve month high of $8.90. The company has a fifty day moving average price of $5.33 and a 200 day moving average price of $5.43. The stock has a market cap of $556.14 million, a price-to-earnings ratio of -4.05 and a beta of 0.68.

Alector (NASDAQ:ALEC) last announced its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same period in the previous year, the company earned $0.02 earnings per share. Analysts forecast that Alector will post -1.92 earnings per share for the current year.

Insider Activity

In other Alector news, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now owns 291,715 shares of the company’s stock, valued at $1,423,569.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the completion of the transaction, the insider now owns 291,715 shares in the company, valued at approximately $1,423,569.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the sale, the chief financial officer now owns 130,740 shares in the company, valued at approximately $638,011.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,222 shares of company stock worth $286,013. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Alector during the 2nd quarter valued at $29,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Alector during the first quarter valued at $40,000. Lazard Asset Management LLC acquired a new position in Alector during the first quarter valued at $59,000. Caxton Associates LP lifted its stake in Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after acquiring an additional 5,933 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Alector by 89.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock worth $111,000 after acquiring an additional 8,670 shares in the last quarter. 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.