Alector, Inc. (NASDAQ:ALEC – Get Free Report) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $3.6250.
A number of research analysts recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and set a $2.00 target price on shares of Alector in a report on Monday, May 4th. Wall Street Zen raised Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alector in a research report on Friday, July 31st.
Check Out Our Latest Report on ALEC
Alector Trading Down 3.9%
Alector (NASDAQ:ALEC – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. Alector had a negative return on equity of 531.03% and a negative net margin of 850.13%.The firm had revenue of $3.32 million for the quarter, compared to analyst estimates of $1.71 million. Analysts expect that Alector will post -0.87 earnings per share for the current year.
Insider Activity
In other news, CEO Arnon Rosenthal sold 87,216 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $171,815.52. Following the transaction, the chief executive officer directly owned 2,367,206 shares of the company’s stock, valued at $4,663,395.82. This represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $38,139.20. Following the sale, the chief financial officer owned 379,900 shares of the company’s stock, valued at approximately $748,403. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,760 shares of company stock worth $227,734 over the last three months. Insiders own 8.30% of the company’s stock.
Institutional Investors Weigh In On Alector
Several hedge funds have recently bought and sold shares of ALEC. BlackRock Inc. bought a new stake in shares of Alector during the second quarter worth approximately $15,774,000. Vanguard Group Inc. increased its stake in shares of Alector by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock worth $17,863,000 after purchasing an additional 46,955 shares during the period. Foresite Capital Management IV LLC bought a new position in shares of Alector during the fourth quarter worth approximately $6,064,000. Merck & Co. Inc. acquired a new stake in Alector during the 2nd quarter worth approximately $7,126,896,000. Finally, 683 Capital Management LLC lifted its holdings in Alector by 235.0% during the 4th quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock worth $5,226,000 after purchasing an additional 2,350,000 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.
Alector Company Profile
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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