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

Alector, Inc. (NASDAQ:ALEC) has been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $3.6250.

ALEC has been the topic of a number of analyst reports. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a report on Wednesday, April 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price objective on shares of Alector in a report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (e+)” rating 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. Finally, BTIG Research raised shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Tuesday, March 10th.

Insiders Place Their Bets

In other Alector news, CFO Neil Lindsay Berkley sold 19,360 shares of Alector stock in a transaction 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 transaction, the chief financial officer directly owned 379,900 shares of the company’s stock, valued at $748,403. The trade was a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 87,216 shares of Alector stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $171,815.52. Following the transaction, the chief executive officer directly owned 2,367,206 shares in the company, valued at $4,663,395.82. This represents a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 117,580 shares of company stock worth $232,557 over the last ninety days. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Alector by 1.8% during the second quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock valued at $481,000 after buying an additional 5,927 shares during the period. Mackenzie Financial Corp increased its position in shares of Alector by 3.4% during 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 during the period. Hershey Trust Co. increased its position in shares of Alector by 100.0% during the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock valued at $32,000 after buying an additional 10,286 shares during the period. Jane Street Group LLC increased its position in shares of Alector by 4.7% during 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. Finally, Diversified Trust Co increased its position in shares of Alector by 83.6% during the first quarter. Diversified Trust Co now owns 25,895 shares of the company’s stock valued at $56,000 after buying an additional 11,793 shares during the period. 85.83% of the stock is owned by hedge funds and other institutional investors.

Alector Stock Performance

NASDAQ ALEC opened at $1.83 on Wednesday. The company has a fifty day simple moving average of $2.11 and a 200 day simple moving average of $1.98. Alector has a 12-month low of $1.09 and a 12-month high of $3.40. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 0.80. The company has a market cap of $203.18 million, a P/E ratio of -1.54 and a beta of 0.61.

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