Alector, Inc. (NASDAQ:ALEC) Receives $3.75 Average PT from Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.75.

A number of equities research analysts have weighed in on ALEC shares. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Monday, December 16th. Mizuho downgraded Alector from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. BTIG Research dropped their target price on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Bank of America downgraded Alector from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $9.00 to $1.00 in a report on Wednesday, December 4th.

Alector Stock Down 3.6 %

NASDAQ ALEC opened at $1.85 on Friday. The firm has a market capitalization of $181.18 million, a PE ratio of -1.09 and a beta of 0.51. The stock’s 50 day moving average is $3.70 and its 200 day moving average is $4.62. Alector has a twelve month low of $1.73 and a twelve month high of $8.90.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.10. The business had revenue of $15.34 million during the quarter, compared to analyst estimates of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. On average, research analysts anticipate that Alector will post -1.85 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Marc Grasso sold 16,489 shares of Alector stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $41,552.28. Following the transaction, the chief financial officer now owns 330,651 shares in the company, valued at $833,240.52. This trade represents a 4.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the transaction, the chief executive officer now directly owns 2,507,074 shares in the company, valued at approximately $6,317,826.48. This represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,161 shares of company stock valued at $239,806 over the last 90 days. Company insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALEC. Point72 DIFC Ltd bought a new stake in Alector during the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Alector in the third quarter worth approximately $40,000. nVerses Capital LLC purchased a new stake in shares of Alector in the third quarter worth $51,000. Valence8 US LP bought a new stake in shares of Alector during the 3rd quarter valued at $69,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Alector by 65.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock valued at $87,000 after buying an additional 7,395 shares in 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.