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

by · The Markets Daily

Shares of Alector, Inc. (NASDAQ:ALEC – Get Free Report) have been given a consensus recommendation of “Reduce” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $3.25.

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Alector from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Mizuho set a $1.50 price target on Alector and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. HC Wainwright decreased their price objective on Alector from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. BTIG Research cut Alector from a “buy” rating to a “neutral” rating in a report on Wednesday, October 22nd. Finally, TD Cowen downgraded Alector from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd.

View Our Latest Research Report on ALEC

Insider Activity

In related news, CFO Neil Lindsay Berkley sold 37,261 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Kenkare-Mitra sold 41,687 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total transaction of $46,689.44. Following the sale, the insider directly owned 501,652 shares in the company, valued at $561,850.24. This trade represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 196,104 shares of company stock worth $220,064. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alector

Several large investors have recently added to or reduced their stakes in ALEC. Acadian Asset Management LLC grew its holdings in shares of Alector by 39.8% during the first quarter. Acadian Asset Management LLC now owns 1,440,661 shares of the company’s stock worth $1,768,000 after purchasing an additional 410,205 shares in the last quarter. Ieq Capital LLC bought a new stake in Alector during the first quarter valued at approximately $99,000. Jacobs Levy Equity Management Inc. grew its stake in Alector by 25.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,334,032 shares of the company’s stock worth $1,641,000 after buying an additional 274,341 shares in the last quarter. Invesco Ltd. grew its stake in Alector by 209.6% in the 1st quarter. Invesco Ltd. now owns 148,576 shares of the company’s stock worth $183,000 after buying an additional 100,591 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Alector by 49.2% in 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. Institutional investors own 85.83% of the company’s stock.

Alector Trading Down 1.9%

Shares of Alector stock opened at $1.53 on Wednesday. The stock has a market capitalization of $167.00 million, a P/E ratio of -1.43 and a beta of 0.61. Alector has a 52-week low of $0.87 and a 52-week high of $3.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.76 and a current ratio of 3.76. The stock’s 50-day simple moving average is $1.36 and its 200 day simple moving average is $1.94.

Alector (NASDAQ:ALEC – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.08. Alector had a negative net margin of 156.03% and a negative return on equity of 123.02%. The firm had revenue of $3.26 million during the quarter, compared to analyst estimates of $3.49 million. As a group, research analysts anticipate that Alector will post -1.88 EPS for the current year.

About Alector

(Get Free Report)

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.

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