Alector, Inc. (NASDAQ:ALEC) Receives $14.50 Consensus Target Price from Analysts

Alector, Inc. (NASDAQ:ALEC) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.50.

Separately, HC Wainwright restated a “buy” rating and set a $41.00 price target on shares of Alector in a research note on Wednesday, February 28th.

Alector Stock Performance

NASDAQ ALEC opened at $5.07 on Friday. The firm has a 50-day simple moving average of $6.23 and a 200 day simple moving average of $6.21. Alector has a twelve month low of $3.66 and a twelve month high of $9.06. The stock has a market cap of $485.45 million, a PE ratio of -3.27 and a beta of 0.79.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.31. The firm had revenue of $15.19 million during the quarter, compared to analysts’ expectations of $8.35 million. Alector had a negative net margin of 134.34% and a negative return on equity of 77.15%. Research analysts forecast that Alector will post -1.85 earnings per share for the current fiscal year.

Insider Transactions at Alector

In related news, CEO Arnon Rosenthal sold 18,837 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the completion of the sale, the chief executive officer now owns 2,000,380 shares of the company’s stock, valued at $13,842,629.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Arnon Rosenthal sold 18,837 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the completion of the sale, the chief executive officer now owns 2,000,380 shares of the company’s stock, valued at $13,842,629.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marc Grasso sold 5,716 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total transaction of $39,554.72. Following the completion of the sale, the chief financial officer now directly owns 144,957 shares of the company’s stock, valued at approximately $1,003,102.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,554 shares of company stock valued at $211,434. Corporate insiders own 14.00% of the company’s stock.

Institutional Trading of Alector

A number of institutional investors have recently bought and sold shares of ALEC. FMR LLC grew its holdings in Alector by 58.3% during the 3rd quarter. FMR LLC now owns 12,172,045 shares of the company’s stock worth $78,875,000 after acquiring an additional 4,481,420 shares during the period. Braidwell LP grew its holdings in Alector by 342.2% during the 1st quarter. Braidwell LP now owns 3,206,315 shares of the company’s stock worth $19,847,000 after acquiring an additional 2,481,291 shares during the period. Morgan Stanley boosted its position in shares of Alector by 92.7% during the third quarter. Morgan Stanley now owns 3,337,386 shares of the company’s stock worth $21,626,000 after purchasing an additional 1,605,293 shares in the last quarter. State Street Corp boosted its position in shares of Alector by 25.2% during the first quarter. State Street Corp now owns 3,836,093 shares of the company’s stock worth $54,664,000 after purchasing an additional 772,398 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Alector by 12.3% during the first quarter. Federated Hermes Inc. now owns 5,931,034 shares of the company’s stock worth $84,517,000 after purchasing an additional 650,187 shares in the last quarter. Institutional investors and hedge funds 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.