Alector, Inc. (NASDAQ:ALEC) Receives $3.63 Consensus PT from Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have been given a consensus recommendation of “Hold” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3.6250.

ALEC has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target on shares of Alector in a report on Monday, May 4th. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. BTIG Research upgraded Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alector in a report on Monday, May 4th. Finally, Cantor Fitzgerald raised Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th.

Insider Buying and Selling

In other news, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $38,139.20. Following the sale, the chief financial officer owned 379,900 shares in the company, valued at $748,403. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $171,815.52. Following the sale, the chief executive officer owned 2,367,206 shares in the company, valued at $4,663,395.82. This represents a 3.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 118,580 shares of company stock worth $235,207 in the last 90 days. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Alector by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock worth $481,000 after purchasing an additional 5,927 shares during the period. Mackenzie Financial Corp boosted its position in Alector by 3.4% in the third quarter. Mackenzie Financial Corp now owns 283,712 shares of the company’s stock valued at $840,000 after buying an additional 9,270 shares in the last quarter. Lexington Partners L.P. acquired a new position in shares of Alector during the third quarter worth approximately $30,000. Hershey Trust Co. lifted its holdings in Alector by 100.0% during the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after buying an additional 10,286 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Alector by 4.7% in the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after buying an additional 11,618 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Trading Down 9.7%

Shares of ALEC opened at $1.64 on Friday. Alector has a 52-week low of $1.09 and a 52-week high of $3.40. The stock has a market cap of $181.53 million, a PE ratio of -1.37 and a beta of 0.61. The firm’s fifty day moving average is $2.27 and its two-hundred day moving average is $1.94. The company has a quick ratio of 5.25, a current ratio of 5.25 and a debt-to-equity ratio of 0.80.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.08. The business had revenue of $1.05 million for the quarter, compared to analyst estimates of $9.67 million. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%. Research analysts forecast that Alector will post -0.86 earnings per share for the current fiscal year.

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.