Mizuho Lowers Alector (NASDAQ:ALEC) Price Target to $12.00

Alector (NASDAQ:ALEC – Get Rating) had its price target reduced by research analysts at Mizuho from $15.00 to $12.00 in a research note issued on Friday, The Fly reports. Mizuho’s price objective would indicate a potential upside of 52.09% from the stock’s current price.

A number of other brokerages have also weighed in on ALEC. BTIG Research cut their price objective on Alector from $54.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. TheStreet downgraded Alector from a “c-” rating to a “d” rating in a research note on Friday, November 11th. HC Wainwright reiterated a “buy” rating and set a $41.00 target price on shares of Alector in a research report on Wednesday. Bank of America cut shares of Alector from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $12.00 in a research report on Friday, January 6th. Finally, Morgan Stanley decreased their price target on shares of Alector from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Alector presently has a consensus rating of “Hold” and an average target price of $15.67.

Alector Stock Performance

ALEC opened at $7.89 on Friday. The stock has a market capitalization of $655.11 million, a price-to-earnings ratio of -4.90 and a beta of 0.83. Alector has a fifty-two week low of $6.84 and a fifty-two week high of $15.72. The company has a fifty day moving average of $8.96 and a 200 day moving average of $9.11.

Insider Buying and Selling at Alector

In related news, insider Gary Romano sold 3,238 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $8.32, for a total transaction of $26,940.16. Following the transaction, the insider now directly owns 104,737 shares in the company, valued at approximately $871,411.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gary Romano sold 3,238 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $8.32, for a total transaction of $26,940.16. Following the completion of the sale, the insider now directly owns 104,737 shares of the company’s stock, valued at approximately $871,411.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arnon Rosenthal sold 5,849 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $8.32, for a total value of $48,663.68. Following the transaction, the chief executive officer now owns 1,628,546 shares of the company’s stock, valued at approximately $13,549,502.72. The disclosure for this sale can be found here. Insiders have sold 10,378 shares of company stock worth $86,345 over the last quarter. Insiders own 12.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in Alector in the 1st quarter worth about $25,000. Great West Life Assurance Co. Can bought a new position in Alector in the third quarter worth approximately $27,000. Lazard Asset Management LLC increased its holdings in Alector by 99.2% during the 2nd quarter. Lazard Asset Management LLC now owns 6,231 shares of the company’s stock worth $63,000 after purchasing an additional 3,103 shares during the period. Point72 Hong Kong Ltd bought a new stake in Alector during the 3rd quarter valued at $65,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Alector in the 4th quarter worth $93,000. Hedge funds and other institutional investors own 64.96% of the company’s stock.

About Alector

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Alector, Inc operates as a clinical-stage biopharmaceutical company, which engages in pioneering of immuno-neurology. It develops portfolio of innate immune system programs, designed to functionally repair genetic mutations and enable the rejuvenated immune cells to counteract emerging brain pathologies.