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

Alector, Inc. (NASDAQ:ALEC) has been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $14.00.

Several research analysts have recently commented on ALEC shares. Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $10.00 to $3.00 in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Tuesday. BTIG Research cut their price target on shares of Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Alector in a research report on Thursday, November 7th.

Alector Price Performance

Shares of Alector stock traded down $1.37 on Tuesday, reaching $2.59. The company had a trading volume of 5,832,614 shares, compared to its average volume of 659,064. The firm has a market cap of $253.64 million, a price-to-earnings ratio of -1.52 and a beta of 0.66. The firm’s 50-day moving average price is $4.88 and its two-hundred day moving average price is $5.06. Alector has a 1 year low of $2.37 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. As a group, analysts anticipate that Alector will post -1.87 EPS for the current year.

Insider Buying and Selling at Alector

In other Alector news, CFO Marc Grasso sold 7,297 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the sale, the chief financial officer now owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. This trade represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Kenkare-Mitra sold 13,926 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 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. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,722 shares of company stock worth $232,883 in the last three months. 9.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of Alector during the third quarter worth about $29,000. Gladius Capital Management LP acquired a new position in shares of Alector during the second quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Alector during the 3rd quarter valued at $40,000. Lazard Asset Management LLC acquired a new stake in Alector in the 1st quarter valued at about $59,000. Finally, nVerses Capital LLC acquired a new position in Alector in the third quarter worth approximately $51,000. 85.83% of the stock is currently owned by institutional investors and hedge funds.

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.