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

Shares of Alector, Inc. (NASDAQ:ALEC) have earned an average recommendation of “Reduce” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $3.40.

ALEC has been the subject of a number of research analyst reports. Mizuho set a $1.50 price target on shares of Alector and gave the company a “neutral” rating in a report on Wednesday, October 22nd. HC Wainwright lowered their target price on shares of Alector from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. Cantor Fitzgerald cut shares of Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a research note on Wednesday, October 8th. Finally, TD Cowen downgraded Alector from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd.

Insider Activity

In other news, CEO Arnon Rosenthal sold 104,347 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total value of $116,868.64. Following the completion of the transaction, the chief executive officer owned 2,420,040 shares in the company, valued at $2,710,444.80. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Neil Lindsay Berkley sold 37,261 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total transaction of $41,732.32. Following the completion of the sale, the chief financial officer owned 374,309 shares in the company, valued at $419,226.08. This represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 191,351 shares of company stock worth $214,313 over the last 90 days. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALEC. Jasper Ridge Partners L.P. boosted its position in Alector by 134.3% in the 3rd quarter. Jasper Ridge Partners L.P. now owns 71,776 shares of the company’s stock valued at $212,000 after buying an additional 41,144 shares during the last quarter. Utah Retirement Systems boosted its holdings in Alector by 40.0% in the third quarter. Utah Retirement Systems now owns 72,002 shares of the company’s stock valued at $213,000 after purchasing an additional 20,572 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Alector by 763.3% in the third quarter. Public Employees Retirement System of Ohio now owns 68,200 shares of the company’s stock valued at $202,000 after purchasing an additional 60,300 shares during the last quarter. Millennium Management LLC grew its stake in Alector by 181.2% during the 3rd quarter. Millennium Management LLC now owns 1,155,027 shares of the company’s stock valued at $3,419,000 after purchasing an additional 744,224 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its holdings in Alector by 14.2% during the 3rd quarter. Boothbay Fund Management LLC now owns 524,077 shares of the company’s stock worth $1,551,000 after purchasing an additional 65,214 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

Alector Stock Up 0.8%

ALEC opened at $1.22 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76. Alector has a 12 month low of $0.87 and a 12 month high of $3.40. The stock has a market capitalization of $133.16 million, a P/E ratio of -1.14 and a beta of 0.67. The business has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $1.94.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.08. Alector had a negative return on equity of 123.02% and a negative net margin of 156.03%.The firm had revenue of $3.26 million during the quarter, compared to analysts’ expectations of $3.49 million. On average, equities analysts anticipate that Alector will post -1.88 earnings per share for the current fiscal year.

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.