Alector, Inc. (NASDAQ:ALEC) Given Average Rating of “Hold” by Brokerages

Alector, Inc. (NASDAQ:ALEC) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $3.25.

A number of brokerages have weighed in on ALEC. Cantor Fitzgerald cut Alector from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 22nd. TD Cowen cut shares of Alector to a “hold” rating in a research note on Wednesday, October 22nd. William Blair lowered shares of Alector from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 22nd. Mizuho set a $1.50 target price on shares of Alector and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley restated an “underweight” rating on shares of Alector in a research report on Thursday, January 8th.

Insider Buying and Selling at Alector

In other news, insider Sara Kenkare-Mitra sold 41,687 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total value of $46,689.44. Following the completion of the sale, the insider owned 501,652 shares in the company, valued at approximately $561,850.24. This trade represents a 7.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Neil Lindsay Berkley sold 37,261 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $41,732.32. Following the completion of the sale, the chief financial officer owned 374,309 shares of the company’s stock, valued at approximately $419,226.08. The trade was a 9.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 196,104 shares of company stock valued at $220,064. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alector

A number of institutional investors and hedge funds have recently modified their holdings of ALEC. Vanguard Group Inc. raised its holdings in Alector by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock worth $17,863,000 after purchasing an additional 46,955 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Alector by 50.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,170,388 shares of the company’s stock worth $3,033,000 after buying an additional 729,727 shares in the last quarter. Geode Capital Management LLC grew its stake in Alector by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock valued at $2,775,000 after acquiring an additional 19,970 shares during the last quarter. Millennium Management LLC increased its holdings in Alector by 181.2% during the 3rd quarter. Millennium Management LLC now owns 1,155,027 shares of the company’s stock valued at $3,419,000 after acquiring an additional 744,224 shares in the last quarter. Finally, Barclays PLC raised its position in Alector by 414.4% during the third quarter. Barclays PLC now owns 873,375 shares of the company’s stock worth $2,585,000 after acquiring an additional 703,580 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Trading Up 1.0%

Shares of Alector stock opened at $1.94 on Friday. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $1.49 and a 200-day simple moving average of $1.98. The stock has a market cap of $211.75 million, a price-to-earnings ratio of -1.81 and a beta of 0.61. Alector has a 12-month low of $0.87 and a 12-month high of $3.40.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.26 million for the quarter, compared to analyst estimates of $3.49 million. On average, equities analysts forecast that Alector will post -1.88 EPS for the current fiscal year.

About Alector

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.