Alector (NASDAQ:ALEC) Rating Lowered to “Hold” at TD Cowen

Alector (NASDAQ:ALEC) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Wednesday,Finviz reports.

ALEC has been the subject of several other research reports. Cantor Fitzgerald downgraded shares of Alector from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Wall Street Zen downgraded shares of Alector from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. William Blair downgraded shares of Alector from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Cowen downgraded shares of Alector to a “hold” rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alector in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Alector presently has a consensus rating of “Reduce” and a consensus price target of $3.83.

Alector Trading Down 3.0%

Shares of Alector stock opened at $3.21 on Wednesday. The company has a fifty day simple moving average of $2.82 and a 200-day simple moving average of $1.88. Alector has a 12-month low of $0.87 and a 12-month high of $6.14. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.13. The stock has a market cap of $324.88 million, a price-to-earnings ratio of -2.77 and a beta of 0.99.

Alector (NASDAQ:ALEC) last issued its earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. Alector had a negative net margin of 142.10% and a negative return on equity of 112.06%. The business had revenue of $7.87 million during the quarter, compared to analysts’ expectations of $2.76 million. Alector has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Alector will post -1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Alector news, Director Paula Hammond sold 14,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $2.36, for a total transaction of $33,040.00. Following the completion of the transaction, the director owned 74,909 shares in the company, valued at approximately $176,785.24. This represents a 15.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of large investors have recently bought and sold shares of ALEC. FNY Investment Advisers LLC raised its position in Alector by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock worth $28,000 after buying an additional 10,000 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Alector in the 2nd quarter valued at about $30,000. HBK Sorce Advisory LLC purchased a new position in shares of Alector in the 3rd quarter valued at about $34,000. CWM LLC increased its holdings in shares of Alector by 370.7% in the 1st quarter. CWM LLC now owns 33,643 shares of the company’s stock valued at $41,000 after purchasing an additional 26,495 shares in the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new position in shares of Alector in the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

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.