Alector (ALEC) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Alector (NASDAQ: ALEC):

• 12/4/2024 – Alector was downgraded by analysts at Bank of America Co. from a “neutral” rating to an “underperform” rating. They now have a $1.00 price target on the stock, down previously from $9.00.
• 11/29/2024 – Alector had its price target lowered by analysts at HC Wainwright from $35.00 to $7.00. They now have a “buy” rating on the stock.
• 11/26/2024 – Alector was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $3.00 price target on the stock, down previously from $10.00.
• 11/26/2024 – Alector had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald.
• 11/26/2024 – Alector had its price target lowered by analysts at BTIG Research from $16.00 to $5.00. They now have a “buy” rating on the stock.
• 11/7/2024 – Alector had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $35.00 price target on the stock.

Alector Stock Down 2.4 %

Alector stock traded down $0.05 during trading hours on Thursday, hitting $2.07. The stock had a trading volume of 682,798 shares, compared to its average volume of 734,796. The business’s 50 day simple moving average is $4.20 and its 200-day simple moving average is $4.81. Alector, Inc. has a one year low of $2.00 and a one year high of $8.90. The stock has a market cap of $202.72 million, a price-to-earnings ratio of -1.22 and a beta of 0.51.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Research analysts anticipate that Alector, Inc. will post -1.85 EPS for the current fiscal year.

Insider Transactions at Alector

In related news, CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the transaction, the chief executive officer now directly owns 2,507,074 shares in the company, valued at approximately $6,317,826.48. The trade was a 2.04 % 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 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 value of $66,780.00. Following the sale, the insider now owns 565,215 shares in the company, valued at $1,424,341.80. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,161 shares of company stock valued at $239,806 over the last ninety days. 9.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALEC. Gladius Capital Management LP bought a new stake in Alector in the second quarter valued at $29,000. Point72 DIFC Ltd bought a new stake in Alector in the third quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Alector in the third quarter valued at $40,000. nVerses Capital LLC bought a new stake in Alector in the third quarter valued at $51,000. Finally, Valence8 US LP bought a new stake in Alector in the third quarter valued at $69,000. 85.83% of the stock is currently owned by institutional investors.

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.