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

Alector, Inc. (NASDAQ:ALEC) has been assigned an average rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $3.6250.

Several equities analysts have issued reports on ALEC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alector in a report on Monday, May 4th. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price target on shares of Alector in a research note on Monday, May 4th.

Alector Trading Up 2.0%

Shares of ALEC stock opened at $1.50 on Friday. Alector has a 1-year low of $1.09 and a 1-year high of $3.40. The company has a market cap of $166.54 million, a price-to-earnings ratio of -1.26 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.25 and a quick ratio of 5.25. The stock has a 50 day simple moving average of $1.87 and a 200-day simple moving average of $2.02.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. The firm had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $9.67 million. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. On average, equities research analysts expect that Alector will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Neil Lindsay Berkley sold 19,360 shares of Alector stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $38,139.20. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arnon Rosenthal sold 87,216 shares of Alector stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $171,815.52. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 115,760 shares of company stock valued at $227,734 in the last three months. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Alector by 183.2% during the 1st quarter. Bank of America Corp DE now owns 380,908 shares of the company’s stock worth $819,000 after purchasing an additional 246,402 shares during the last quarter. Eversept Partners LP raised its position in shares of Alector by 34.3% in the first quarter. Eversept Partners LP now owns 1,351,106 shares of the company’s stock valued at $2,905,000 after buying an additional 344,943 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Alector in the first quarter valued at about $1,075,000. Spruce Street Capital LP lifted its stake in shares of Alector by 87.9% in the first quarter. Spruce Street Capital LP now owns 2,101,068 shares of the company’s stock worth $4,517,000 after buying an additional 983,082 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Alector by 218.9% in the first quarter. Sei Investments Co. now owns 53,846 shares of the company’s stock worth $116,000 after buying an additional 36,962 shares in the last quarter. Hedge funds and other 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.