Alector (NASDAQ:ALEC) Receives Overweight Rating from Cantor Fitzgerald

Alector (NASDAQ:ALEC)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports.

Other analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Alector from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $3.00 in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Alector Trading Down 1.0 %

Shares of Alector stock opened at $2.55 on Tuesday. The firm’s 50-day moving average price is $4.81 and its two-hundred day moving average price is $5.04. Alector has a 12-month low of $2.37 and a 12-month high of $8.90.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The business had revenue of $15.34 million during the quarter, compared to analyst estimates of $16.33 million. Equities research analysts anticipate that Alector will post -1.87 EPS for the current year.

Insider Activity at Alector

In other news, CEO Arnon Rosenthal sold 26,499 shares of the firm’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 $129,315.12. Following the transaction, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’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 $67,958.88. Following the completion of the transaction, the insider now directly owns 291,715 shares in the company, valued at $1,423,569.20. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,722 shares of company stock worth $232,883 over the last quarter. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of Alector

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Alector by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after purchasing an additional 526,037 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Alector by 73.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock valued at $419,000 after acquiring an additional 38,947 shares during the last quarter. Creative Planning grew its position in Alector by 54.2% in the 3rd quarter. Creative Planning now owns 19,117 shares of the company’s stock valued at $89,000 after acquiring an additional 6,723 shares during the last quarter. Acadian Asset Management LLC grew its position in Alector by 32.8% in the 2nd quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock valued at $2,681,000 after acquiring an additional 146,015 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in Alector by 61.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after acquiring an additional 135,614 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

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.