Alector’s (ALEC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Alector (NASDAQ:ALEC) in a report issued on Tuesday morning, Benzinga reports.

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

Alector Stock Performance

NASDAQ:ALEC opened at $6.14 on Tuesday. Alector has a 52 week low of $3.66 and a 52 week high of $8.90. The firm’s fifty day moving average is $5.51 and its 200-day moving average is $5.39. The firm has a market cap of $591.80 million, a P/E ratio of -4.45 and a beta of 0.68.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $16.04 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. As a group, sell-side analysts anticipate that Alector will post -1.92 earnings per share for the current year.

Insider Transactions at Alector

In related news, insider Sara Kenkare-Mitra sold 13,926 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 $67,958.88. Following the completion of the sale, the insider now directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alector news, Director Paula Hammond sold 10,500 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $5.06, for a total value of $53,130.00. Following the transaction, the director now directly owns 60,209 shares of the company’s stock, valued at $304,657.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock valued at $286,013 in the last 90 days. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alector

Several large investors have recently added to or reduced their stakes in ALEC. Vanguard Group Inc. increased its holdings in Alector by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after purchasing an additional 526,037 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Alector by 211.6% during the first quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after buying an additional 301,936 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Alector during the fourth quarter worth $1,920,000. Panagora Asset Management Inc. raised 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 buying an additional 135,614 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Alector by 16.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 922,799 shares of the company’s stock valued at $5,555,000 after acquiring an additional 128,515 shares in the last quarter. 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.