Alector, Inc. (NASDAQ:ALEC) Receives $3.75 Average Target Price from Analysts

Alector, Inc. (NASDAQ:ALEC) has been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $3.75.

Several research analysts have weighed in on ALEC shares. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a report on Monday, December 16th. Mizuho lowered Alector from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. Morgan Stanley downgraded Alector from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $9.00 to $1.00 in a research report on Wednesday, December 4th. Finally, BTIG Research reduced their target price on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th.

Insider Activity at Alector

In other Alector news, CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of the transaction, the chief executive officer now directly owns 2,507,074 shares in the company, valued at $6,317,826.48. The trade was a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the sale, the insider now directly owns 565,215 shares in the company, valued at approximately $1,424,341.80. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,161 shares of company stock valued at $239,806 over the last quarter. 9.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Alector by 64.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock valued at $12,716,000 after purchasing an additional 1,072,298 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Alector by 18.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock valued at $4,742,000 after buying an additional 159,111 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alector by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after buying an additional 148,357 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Alector by 32.8% during the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock worth $2,681,000 after buying an additional 146,015 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Alector by 1.0% during the third quarter. FMR LLC now owns 14,595,014 shares of the company’s stock worth $68,013,000 after buying an additional 137,794 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Alector Trading Down 2.2 %

Shares of NASDAQ ALEC opened at $1.78 on Friday. The company has a market capitalization of $174.32 million, a P/E ratio of -1.05 and a beta of 0.51. Alector has a 12 month low of $1.73 and a 12 month high of $8.90. The stock has a 50 day moving average of $3.56 and a 200-day moving average of $4.58.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The firm had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Analysts predict that Alector will post -1.85 EPS 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.