Alector, Inc. (NASDAQ:ALEC) Receives Average Recommendation of “Hold” from Brokerages

Alector, Inc. (NASDAQ:ALEC) has received an average rating of “Hold” from the eight analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $4.1667.

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Alector in a research note on Wednesday, January 21st. BTIG Research upgraded shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Tuesday, March 10th. Morgan Stanley reissued an “underweight” rating on shares of Alector in a research note on Thursday, January 8th. Finally, Wall Street Zen lowered shares of Alector from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st.

Hedge Funds Weigh In On Alector

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC lifted its position in shares of Alector by 4.7% during the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock worth $316,000 after buying an additional 11,618 shares during the period. Strs Ohio bought a new stake in Alector in the first quarter valued at $126,000. Bank of Montreal Can acquired a new position in Alector during the second quarter worth $73,000. Los Angeles Capital Management LLC raised its stake in Alector by 5.3% during the second quarter. Los Angeles Capital Management LLC now owns 151,896 shares of the company’s stock worth $213,000 after acquiring an additional 7,600 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Alector by 1.0% during the second 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 period. 85.83% of the stock is owned by institutional investors and hedge funds.

Alector Stock Performance

ALEC opened at $2.05 on Monday. The stock’s 50 day simple moving average is $2.03 and its 200-day simple moving average is $2.02. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.30. The stock has a market cap of $226.24 million, a PE ratio of -1.47 and a beta of 0.58. Alector has a 1 year low of $0.87 and a 1 year high of $3.40.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, February 25th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.05. Alector had a negative return on equity of 224.96% and a negative net margin of 679.16%.The firm had revenue of $6.24 million during the quarter, compared to analysts’ expectations of $1.78 million. Sell-side analysts forecast that Alector will post -1.88 EPS for the current 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.