Alector (NASDAQ:ALEC) Upgraded to “Hold” at Wall Street Zen

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

Several other research firms have also weighed in on ALEC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alector in a report on Wednesday, January 21st. Morgan Stanley reaffirmed an “underweight” rating on shares of Alector in a research note on Thursday, January 8th. Finally, BTIG Research raised Alector from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.25.

Alector Stock Down 1.0%

Alector stock opened at $1.99 on Friday. The company’s 50 day simple moving average is $1.76 and its 200 day simple moving average is $2.02. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $3.40. The firm has a market capitalization of $217.21 million, a price-to-earnings ratio of -1.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76.

Insiders Place Their Bets

In other Alector news, CFO Neil Lindsay Berkley sold 37,261 shares of Alector stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total value of $41,732.32. Following the sale, the chief financial officer owned 374,309 shares of the company’s stock, valued at $419,226.08. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sara Kenkare-Mitra sold 41,687 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total value of $46,689.44. Following the transaction, the insider directly owned 501,652 shares of the company’s stock, valued at $561,850.24. This represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 196,104 shares of company stock worth $220,064. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of Alector

A number of institutional investors have recently made changes to their positions in the business. Jane Street Group LLC boosted its holdings in Alector by 4.7% during the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock worth $316,000 after purchasing an additional 11,618 shares during the last quarter. Strs Ohio bought a new stake in Alector during the 1st quarter worth about $126,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Alector by 49.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 52,095 shares of the company’s stock worth $73,000 after buying an additional 17,170 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Alector by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock valued at $28,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Alector in the 2nd quarter valued at about $73,000. 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.