Shares of Alector, Inc. (NASDAQ:ALEC – Get Free Report) have earned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.6250.
A number of brokerages recently weighed in on ALEC. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 target price on shares of Alector in a research report on Monday, May 4th. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th.
Read Our Latest Stock Report on ALEC
Alector Stock Up 7.7%
Alector (NASDAQ:ALEC – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%.The company had revenue of $1.05 million during the quarter, compared to analyst estimates of $9.67 million. As a group, research analysts predict that Alector will post -0.86 earnings per share for the current year.
Insider Activity at Alector
In related news, CFO Neil Lindsay Berkley sold 19,360 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $38,139.20. Following the transaction, the chief financial officer owned 379,900 shares in the company, valued at $748,403. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $171,815.52. Following the sale, the chief executive officer directly owned 2,367,206 shares in the company, valued at approximately $4,663,395.82. The trade was a 3.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,760 shares of company stock valued at $227,734 over the last quarter. Insiders own 8.30% of the company’s stock.
Hedge Funds Weigh In On Alector
Hedge funds have recently modified their holdings of the company. Bronte Capital Management Pty Ltd. acquired a new stake in shares of Alector in the fourth quarter valued at $30,000. Hershey Trust Co. grew its holdings in Alector by 100.0% during the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after acquiring an additional 10,286 shares during the period. Prudential Financial Inc. bought a new stake in Alector in the second quarter worth about $30,000. Virtu Financial LLC bought a new position in shares of Alector during the 4th quarter valued at about $34,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Alector during the fourth quarter worth approximately $40,000. 85.83% of the stock is currently owned by institutional investors and hedge funds.
About Alector
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.
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