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

Shares of Alector, Inc. (NASDAQ:ALEC) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two investment 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 12 month target price among analysts that have issued ratings on the stock in the last year is $3.75.

A number of equities analysts have weighed in on ALEC shares. BTIG Research decreased their price target on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Morgan Stanley downgraded shares of Alector from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. Mizuho downgraded shares of Alector from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Finally, HC Wainwright dropped their target price on Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, November 29th.

Insider Activity

In related news, CFO Marc Grasso sold 16,489 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $41,552.28. Following the sale, the chief financial officer now directly owns 330,651 shares of the company’s stock, valued at approximately $833,240.52. This represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sara Kenkare-Mitra sold 26,500 shares of Alector stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $66,780.00. Following the completion of the transaction, the insider now directly owns 565,215 shares of the company’s stock, valued at approximately $1,424,341.80. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,161 shares of company stock worth $239,806. 9.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alector

A number of institutional investors have recently modified their holdings of ALEC. Bank of New York Mellon Corp boosted its stake in Alector by 21.5% in the second quarter. Bank of New York Mellon Corp now owns 279,938 shares of the company’s stock valued at $1,271,000 after acquiring an additional 49,625 shares during the period. Rhumbline Advisers lifted its holdings in shares of Alector by 20.1% in the 2nd quarter. Rhumbline Advisers now owns 109,924 shares of the company’s stock worth $499,000 after purchasing an additional 18,398 shares during the last quarter. Victory Capital Management Inc. boosted its position in Alector by 21.0% during the 2nd quarter. Victory Capital Management Inc. now owns 156,234 shares of the company’s stock valued at $709,000 after purchasing an additional 27,094 shares during the period. Federated Hermes Inc. grew its stake in Alector by 4.1% during the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after buying an additional 2,709 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Alector by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock worth $513,000 after buying an additional 3,790 shares during the period. Institutional investors own 85.83% of the company’s stock.

Alector Trading Up 1.2 %

NASDAQ:ALEC opened at $1.73 on Wednesday. The firm’s fifty day simple moving average is $2.46 and its 200 day simple moving average is $4.27. Alector has a twelve month low of $1.60 and a twelve month high of $7.58. The firm has a market capitalization of $169.42 million, a price-to-earnings ratio of -1.02 and a beta of 0.57.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The company had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. On average, analysts predict that Alector will post -1.88 earnings per share for the current year.

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.