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

Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $14.67.

ALEC has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Alector in a research report on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Monday, September 9th.

Alector Stock Performance

Shares of NASDAQ ALEC opened at $5.68 on Tuesday. The firm has a market capitalization of $547.47 million, a P/E ratio of -4.12 and a beta of 0.68. Alector has a one year low of $3.66 and a one year high of $8.90. The company’s fifty day moving average is $5.46 and its two-hundred day moving average is $5.39.

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

Insider Activity at Alector

In related news, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,222 shares of company stock valued at $286,013. 9.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALEC. New York State Common Retirement Fund increased its stake in shares of Alector by 104.9% during the 4th quarter. New York State Common Retirement Fund now owns 25,758 shares of the company’s stock valued at $206,000 after acquiring an additional 13,189 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Alector by 17.7% during the 4th quarter. BNP Paribas Financial Markets now owns 94,955 shares of the company’s stock valued at $758,000 after acquiring an additional 14,287 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Alector by 17.5% during the 4th quarter. Principal Financial Group Inc. now owns 48,755 shares of the company’s stock valued at $389,000 after acquiring an additional 7,262 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Alector during the 4th quarter worth approximately $1,920,000. Finally, Rafferty Asset Management LLC increased its position in Alector by 2.3% during the 4th quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock worth $1,523,000 after purchasing an additional 4,287 shares in the last quarter. Institutional investors and hedge funds 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.