Alector (NASDAQ:ALEC) Upgraded by Cantor Fitzgerald to “Overweight” Rating

Cantor Fitzgerald upgraded shares of Alector (NASDAQ:ALEC) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Alector from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. BTIG Research raised shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a research report on Wednesday, January 21st. Finally, Morgan Stanley reissued an “underweight” rating on shares of Alector in a research report on Thursday, January 8th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.17.

Alector Stock Up 7.1%

Alector stock opened at $2.58 on Wednesday. The company has a market cap of $284.73 million, a P/E ratio of -1.86 and a beta of 0.58. Alector has a 1-year low of $0.90 and a 1-year high of $3.40. The company has a fifty day simple moving average of $2.17 and a 200 day simple moving average of $1.94. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.30.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, February 25th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. The business had revenue of $6.24 million during the quarter, compared to the consensus estimate of $1.78 million. Alector had a negative net margin of 679.16% and a negative return on equity of 224.96%. Research analysts anticipate that Alector will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of Alector

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Alector by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock worth $17,863,000 after buying an additional 46,955 shares during the period. Foresite Capital Management IV LLC bought a new stake in shares of Alector during the 4th quarter worth about $6,064,000. 683 Capital Management LLC boosted its holdings in shares of Alector by 235.0% during the 4th quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock worth $5,226,000 after buying an additional 2,350,000 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Alector during the 4th quarter worth about $5,094,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Alector by 76.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock worth $3,390,000 after buying an additional 942,228 shares during the period. Institutional investors own 85.83% of the company’s stock.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.