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

Shares of Alector, Inc. (NASDAQ:ALEC – Get Rating) have earned an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $15.13.

Several equities analysts have commented on ALEC shares. Citigroup cut their price objective on Alector from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, March 1st. Mizuho cut their price target on Alector from $15.00 to $12.00 in a research report on Friday, March 3rd. Barclays decreased their target price on shares of Alector from $14.00 to $12.00 in a research note on Friday, May 5th. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price target on shares of Alector in a report on Wednesday, March 1st. Finally, BTIG Research reduced their price objective on shares of Alector from $54.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, March 2nd.

Insider Activity

In related news, CEO Arnon Rosenthal sold 15,186 shares of the stock in a transaction on Friday, March 17th. The stock was sold at an average price of $6.22, for a total transaction of $94,456.92. Following the completion of the sale, the chief executive officer now directly owns 1,656,350 shares of the company’s stock, valued at $10,302,497. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alector news, insider Gary Romano sold 3,238 shares of the stock in a transaction that occurred on 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 owns 104,737 shares of the company’s stock, valued at $871,411.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 15,186 shares of the firm’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $6.22, for a total value of $94,456.92. Following the completion of the transaction, the chief executive officer now owns 1,656,350 shares in the company, valued at $10,302,497. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,564 shares of company stock valued at $180,802. 12.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALEC. Raymond James & Associates bought a new position in Alector during the 1st quarter valued at $1,106,000. Bank of New York Mellon Corp increased its holdings in shares of Alector by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 206,696 shares of the company’s stock worth $2,945,000 after purchasing an additional 1,983 shares during the period. American Century Companies Inc. increased its position in shares of Alector by 84.7% during the first quarter. American Century Companies Inc. now owns 140,887 shares of the company’s stock valued at $2,008,000 after purchasing an additional 64,589 shares during the period. AlphaCrest Capital Management LLC bought a new stake in Alector in the first quarter valued at about $404,000. Finally, MetLife Investment Management LLC grew its position in Alector by 54.9% in the first quarter. MetLife Investment Management LLC now owns 31,825 shares of the company’s stock valued at $454,000 after acquiring an additional 11,276 shares during the period. Hedge funds and other institutional investors own 64.96% of the company’s stock.

Alector Stock Performance

Shares of Alector stock opened at $7.75 on Wednesday. Alector has a one year low of $5.76 and a one year high of $13.50. The stock has a market cap of $645.96 million, a P/E ratio of -4.78 and a beta of 0.79. The stock’s fifty day moving average is $6.69 and its 200 day moving average is $7.94.

Alector (NASDAQ:ALEC – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.09). Alector had a negative net margin of 107.05% and a negative return on equity of 57.31%. The company had revenue of $14.44 million for the quarter, compared to the consensus estimate of $35.37 million. Analysts predict that Alector will post -3.06 EPS for the current year.

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.