Alector, Inc. (NASDAQ:ALEC) Receives Average Rating of “Moderate Buy” from Brokerages

Alector, Inc. (NASDAQ:ALEC) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $14.86.

Separately, HC Wainwright reissued a “buy” rating and set a $41.00 target price on shares of Alector in a research note on Wednesday, February 28th.

Alector Trading Down 0.4 %

Shares of Alector stock opened at $5.30 on Wednesday. The company has a market cap of $510.87 million, a P/E ratio of -3.42 and a beta of 0.82. The business has a 50-day moving average price of $5.90 and a two-hundred day moving average price of $6.13. Alector has a 1-year low of $3.66 and a 1-year high of $9.06.

Alector (NASDAQ:ALEC) last released its earnings results on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.31. Alector had a negative return on equity of 77.15% and a negative net margin of 134.34%. The business had revenue of $15.19 million during the quarter, compared to analysts’ expectations of $8.35 million. Equities research analysts forecast that Alector will post -1.89 EPS for the current fiscal year.

Insider Transactions at Alector

In related news, CEO Arnon Rosenthal sold 18,837 shares of Alector stock in a transaction on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the completion of the sale, the chief executive officer now owns 2,000,380 shares of the company’s stock, valued at approximately $13,842,629.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Gary Romano sold 6,001 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $41,526.92. Following the completion of the sale, the insider now directly owns 196,313 shares of the company’s stock, valued at $1,358,485.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 18,837 shares of Alector stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the transaction, the chief executive officer now directly owns 2,000,380 shares in the company, valued at approximately $13,842,629.60. The disclosure for this sale can be found here. Insiders have sold 30,554 shares of company stock valued at $211,434 over the last ninety days. 14.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alector

Several large investors have recently bought and sold shares of the stock. Bailard Inc. bought a new position in shares of Alector during the third quarter valued at about $119,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Alector by 7.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,119 shares of the company’s stock valued at $383,000 after buying an additional 4,114 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Alector by 957.2% during the 3rd quarter. TD Asset Management Inc now owns 119,138 shares of the company’s stock worth $772,000 after buying an additional 107,869 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Alector by 21.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 293,534 shares of the company’s stock worth $1,902,000 after buying an additional 51,440 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Alector by 20.2% in the third quarter. Principal Financial Group Inc. now owns 41,493 shares of the company’s stock valued at $269,000 after acquiring an additional 6,973 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.