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

Shares of Alector, Inc. (NASDAQ:ALEC) have received an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.25.

Several equities analysts have weighed in on ALEC shares. Mizuho set a $1.50 price target on Alector and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Morgan Stanley reissued an “underweight” rating on shares of Alector in a research report on Thursday, January 8th. HC Wainwright cut their price objective on Alector from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. TD Cowen downgraded Alector to a “hold” rating in a research report on Wednesday, October 22nd. Finally, BTIG Research raised shares of Alector from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th.

Insider Buying and Selling at Alector

In other Alector news, CEO Arnon Rosenthal sold 104,347 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $116,868.64. Following the completion of the transaction, the chief executive officer directly owned 2,420,040 shares of the company’s stock, valued at $2,710,444.80. This trade represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Kenkare-Mitra sold 41,687 shares of Alector stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total value of $46,689.44. Following the completion of the transaction, the insider owned 501,652 shares of the company’s stock, valued at approximately $561,850.24. The trade was a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 196,104 shares of company stock worth $220,064 in the last ninety days. 9.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Alector

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Alector by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock worth $17,863,000 after buying an additional 46,955 shares during the period. Foresite Capital Management IV LLC bought a new position in shares of Alector during the 4th quarter valued at about $6,064,000. 683 Capital Management LLC grew its position in Alector by 235.0% in the fourth quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock worth $5,226,000 after buying an additional 2,350,000 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Alector during the fourth quarter worth $5,094,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Alector by 76.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock valued at $3,390,000 after acquiring an additional 942,228 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Alector Stock Performance

ALEC opened at $1.98 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76. The stock has a market cap of $216.12 million, a P/E ratio of -1.85 and a beta of 0.64. The stock’s 50 day simple moving average is $1.74 and its 200 day simple moving average is $2.01. Alector has a 1-year low of $0.87 and a 1-year high of $3.40.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.