Alector (NASDAQ:ALEC) Raised to Hold at Wall Street Zen

Alector (NASDAQ:ALEC) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Mizuho upgraded shares of Alector from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $2.50 to $3.50 in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alector presently has an average rating of “Hold” and a consensus price target of $4.17.

Alector Stock Down 4.2%

Shares of Alector stock opened at $2.75 on Friday. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $1.56. The company has a market cap of $278.33 million, a P/E ratio of -2.37 and a beta of 0.99. Alector has a 12-month low of $0.87 and a 12-month high of $6.37.

Alector (NASDAQ:ALEC) last announced its earnings results on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Alector had a negative net margin of 142.10% and a negative return on equity of 112.06%. The firm had revenue of $7.87 million for the quarter, compared to analysts’ expectations of $2.76 million. Alector has set its FY 2025 guidance at EPS. Research analysts anticipate that Alector will post -1.88 EPS for the current year.

Insider Activity

In related news, Director Paula Hammond sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total transaction of $33,040.00. Following the completion of the sale, the director directly owned 74,909 shares of the company’s stock, valued at approximately $176,785.24. This trade represents a 15.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 20,910 shares of company stock worth $49,255. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alector

Institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in shares of Alector in the 4th quarter valued at about $25,000. Tema Etfs LLC purchased a new position in shares of Alector in the 4th quarter valued at about $27,000. FNY Investment Advisers LLC boosted its stake in shares of Alector by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock valued at $28,000 after buying an additional 10,000 shares during the period. Prudential Financial Inc. purchased a new position in shares of Alector in the 2nd quarter valued at about $30,000. Finally, CWM LLC boosted its stake in shares of Alector by 370.7% in the 1st quarter. CWM LLC now owns 33,643 shares of the company’s stock valued at $41,000 after buying an additional 26,495 shares during the period. 85.83% of the stock is owned by institutional investors and hedge funds.

About Alector

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.