Alector, Inc. (NASDAQ:ALEC) Given Average Recommendation of “Moderate Buy” by Brokerages

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

ALEC has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a report on Thursday, June 20th. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Alector in a research note on Thursday, June 20th.

Alector Price Performance

ALEC opened at $6.49 on Monday. The company has a market capitalization of $625.57 million, a PE ratio of -4.70 and a beta of 0.73. The firm has a 50-day simple moving average of $5.02 and a two-hundred day simple moving average of $5.71. Alector has a 52 week low of $3.66 and a 52 week high of $9.06.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. The company had revenue of $15.89 million during the quarter, compared to analyst estimates of $14.63 million. As a group, sell-side analysts expect that Alector will post -1.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Gary Romano sold 8,040 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $38,592.00. Following the sale, the insider now owns 188,273 shares of the company’s stock, valued at $903,710.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Gary Romano sold 8,040 shares of the company’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 $38,592.00. Following the transaction, the insider now directly owns 188,273 shares in the company, valued at approximately $903,710.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marc Grasso sold 6,920 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $33,216.00. Following the completion of the sale, the chief financial officer now directly owns 138,037 shares in the company, valued at $662,577.60. The disclosure for this sale can be found here. Insiders sold 40,095 shares of company stock valued at $192,456 over the last three months. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alector

Large investors have recently bought and sold shares of the business. Gladius Capital Management LP purchased a new stake in shares of Alector during the second quarter valued at $29,000. Allspring Global Investments Holdings LLC bought a new stake in Alector during the 1st quarter valued at about $40,000. Lazard Asset Management LLC purchased a new stake in Alector in the 1st quarter valued at about $59,000. China Universal Asset Management Co. Ltd. grew its stake in Alector by 352.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after acquiring an additional 7,584 shares in the last quarter. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Alector during the fourth quarter worth approximately $81,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Company Profile

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.