Investment analysts at HC Wainwright began coverage on shares of Alector (NASDAQ:ALEC – Get Free Report) in a research report issued on Friday, Zacks reports. The firm set a “strong-buy” rating on the stock.
A number of other equities analysts also recently commented on the company. Weiss Ratings upgraded Alector from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Morgan Stanley boosted their target price on Alector from $2.00 to $3.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 6th. Wall Street Zen raised Alector from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group restated a “neutral” rating and issued a $1.50 price objective on shares of Alector in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.62.
View Our Latest Analysis on Alector
Alector Stock Performance
NASDAQ ALEC opened at $2.29 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26. Alector has a fifty-two week low of $1.09 and a fifty-two week high of $2.76. The firm’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $2.03. The stock has a market cap of $255.70 million, a PE ratio of 6.54 and a beta of 0.61.
Alector (NASDAQ:ALEC – Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $1.34. Alector had a negative return on equity of 531.03% and a negative net margin of 850.13%. The business had revenue of $162.87 million for the quarter, compared to analyst estimates of $2.19 million. On average, equities analysts expect that Alector will post -0.47 EPS for the current fiscal year.
Insider Transactions at Alector
In other news, CFO Neil Berkley sold 29,251 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total value of $77,807.66. Following the transaction, the chief financial officer directly owned 350,649 shares in the company, valued at $932,726.34. This trade represents a 7.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 72,606 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total transaction of $193,131.96. Following the transaction, the chief executive officer owned 2,294,600 shares in the company, valued at approximately $6,103,636. The trade was a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 111,303 shares of company stock worth $295,633 over the last quarter. 8.30% of the stock is currently owned by corporate insiders.
Institutional Trading of Alector
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Alector in the second quarter worth approximately $15,774,000. Nantahala Capital Management LLC acquired a new position in shares of Alector during the 2nd quarter worth about $8,679,399. Merck & Co. Inc. bought a new position in Alector in the second quarter valued at about $7,126,896. ADAR1 Capital Management LLC acquired a new stake in Alector in the second quarter valued at $5,796,000. Finally, Spruce Street Capital LP bought a new stake in shares of Alector during the second quarter worth about $4,223,147. Institutional investors and hedge funds own 85.83% of the company’s stock.
About Alector
Alector, Inc (NASDAQ: ALEC) is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company’s research platform, known as immuno-neurology, is designed to use the body’s immune system to protect or restore the brain’s ability to maintain healthy neural connections.
Alector’s investigational pipeline has included antibody-based treatments for conditions such as frontotemporal dementia and Alzheimer’s disease. Its programs have targeted biological pathways associated with neurodegeneration, including progranulin and TREM2.
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