Alector (NASDAQ:ALEC) Lowered to Neutral Rating by BTIG Research

Alector (NASDAQ:ALEC) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Finviz reports.

Several other equities analysts have also issued reports on the company. Cowen lowered Alector to a “hold” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alector in a research note on Wednesday, October 8th. William Blair lowered Alector from an “outperform” rating to a “market perform” rating in a research note on Wednesday. TD Cowen lowered Alector from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Mizuho set a $1.50 target price on Alector and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $3.83.

Alector Trading Down 3.0%

Shares of ALEC opened at $3.21 on Wednesday. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.13. Alector has a 12-month low of $0.87 and a 12-month high of $6.14. The firm has a market capitalization of $324.88 million, a PE ratio of -2.77 and a beta of 0.99. The stock’s fifty day simple moving average is $2.82 and its 200-day simple moving average is $1.88.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%.The business had revenue of $7.87 million for the quarter, compared to analyst estimates of $2.76 million. Alector has set its FY 2025 guidance at EPS. As a group, research analysts predict that Alector will post -1.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Paula Hammond sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total transaction of $33,040.00. Following the sale, the director owned 74,909 shares of the company’s stock, valued at $176,785.24. This trade represents a 15.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Alector

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Alector by 1.8% during the second quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock worth $481,000 after buying an additional 5,927 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Alector by 5.3% during the second quarter. Los Angeles Capital Management LLC now owns 151,896 shares of the company’s stock worth $213,000 after buying an additional 7,600 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Alector by 26.7% during the second quarter. Vontobel Holding Ltd. now owns 38,000 shares of the company’s stock worth $53,000 after buying an additional 8,000 shares in the last quarter. Sio Capital Management LLC grew its holdings in shares of Alector by 1.0% during the second quarter. Sio Capital Management LLC now owns 845,531 shares of the company’s stock worth $1,184,000 after buying an additional 8,372 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in shares of Alector by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock worth $28,000 after buying an additional 10,000 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.