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

Alector, Inc. (NASDAQ:ALEC) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $14.50.

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

Alector Stock Performance

NASDAQ ALEC opened at $6.02 on Friday. The firm’s fifty day moving average price is $6.28 and its two-hundred day moving average price is $6.24. The stock has a market cap of $576.41 million, a PE ratio of -3.88 and a beta of 0.79. Alector has a fifty-two week low of $3.66 and a fifty-two week high of $9.06.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.49) earnings per share for the quarter, beating 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 company had revenue of $15.19 million for the quarter, compared to the consensus estimate of $8.35 million. As a group, sell-side analysts predict that Alector will post -1.89 earnings per share for the current fiscal year.

Insider Activity at Alector

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

Hedge Funds Weigh In On Alector

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of Alector by 58.3% in the 3rd quarter. FMR LLC now owns 12,172,045 shares of the company’s stock worth $78,875,000 after acquiring an additional 4,481,420 shares in the last quarter. BlackRock Inc. grew its stake in Alector by 3.2% during the second quarter. BlackRock Inc. now owns 7,825,553 shares of the company’s stock worth $47,032,000 after purchasing an additional 241,637 shares during the period. Federated Hermes Inc. increased its holdings in Alector by 12.3% in the first quarter. Federated Hermes Inc. now owns 5,931,034 shares of the company’s stock worth $84,517,000 after purchasing an additional 650,187 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alector by 0.8% in the third quarter. Vanguard Group Inc. now owns 5,753,194 shares of the company’s stock worth $54,426,000 after purchasing an additional 44,498 shares in the last quarter. Finally, State Street Corp lifted its stake in Alector by 2.0% in the second quarter. State Street Corp now owns 3,914,336 shares of the company’s stock valued at $39,770,000 after buying an additional 78,243 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

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.