Alector (NASDAQ:ALEC) Downgraded by Wall Street Zen to “Sell”

Alector (NASDAQ:ALEC) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other research firms also recently commented on ALEC. TD Cowen downgraded shares of Alector from a “buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Cowen lowered shares of Alector to a “hold” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald cut shares of Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 22nd. HC Wainwright cut their target price on Alector from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alector in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $3.00.

Alector Stock Down 0.4%

ALEC opened at $1.35 on Friday. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $3.40. The business has a 50-day moving average of $2.13 and a 200-day moving average of $1.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76. The company has a market capitalization of $146.81 million, a PE ratio of -1.26 and a beta of 0.93.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.08. Alector had a negative return on equity of 123.02% and a negative net margin of 156.03%.The business had revenue of $3.26 million during the quarter, compared to analysts’ expectations of $3.49 million. Alector has set its FY 2025 guidance at EPS. Equities research analysts forecast that Alector will post -1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Alector

Several large investors have recently made changes to their positions in ALEC. FNY Investment Advisers LLC boosted its stake in Alector by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock valued at $28,000 after purchasing an additional 10,000 shares during the period. Pinegrove Venture Partners LLC bought a new position in Alector in the 3rd quarter worth approximately $30,000. Lexington Partners L.P. acquired a new position in shares of Alector during the third quarter worth approximately $30,000. Prudential Financial Inc. bought a new stake in shares of Alector in the second quarter valued at approximately $30,000. Finally, Belvedere Trading LLC bought a new stake in shares of Alector in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

About Alector

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.