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

Shares of Alector, Inc. (NASDAQ:ALEC) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $14.00.

Several analysts recently commented on ALEC shares. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Alector in a research report on Thursday, June 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research note on Thursday, June 20th.

Alector Price Performance

ALEC stock opened at $6.49 on Monday. The company has a fifty day moving average price of $5.02 and a 200 day moving average price of $5.68. Alector has a 12 month low of $3.66 and a 12 month high of $9.06. The company has a market cap of $625.57 million, a price-to-earnings ratio of -4.70 and a beta of 0.73.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.10. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. The firm had revenue of $15.89 million during the quarter, compared to the consensus estimate of $14.63 million. As a group, analysts anticipate that Alector will post -1.93 earnings per share for the current year.

Insider Buying and Selling at Alector

In other news, CEO Arnon Rosenthal sold 25,135 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the transaction, the chief executive officer now directly owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Marc Grasso sold 6,920 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $33,216.00. Following the sale, the chief financial officer now directly owns 138,037 shares in the company, valued at approximately $662,577.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the sale, the chief executive officer now owns 1,975,245 shares in the company, valued at $9,481,176. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,095 shares of company stock valued at $192,456. 9.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alector

Several institutional investors and hedge funds have recently made changes to their positions in ALEC. Susquehanna Fundamental Investments LLC purchased a new position in Alector in the 1st quarter valued at about $760,000. Acadian Asset Management LLC lifted its holdings in Alector by 211.6% in the 1st quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after purchasing an additional 301,936 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Alector by 352.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock valued at $78,000 after purchasing an additional 7,584 shares in the last quarter. SG Americas Securities LLC purchased a new position in Alector in the 4th quarter valued at about $133,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alector by 3.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,239 shares of the company’s stock valued at $489,000 after purchasing an additional 2,120 shares in the last quarter. 85.83% of the stock is currently owned by hedge funds and other 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.