Alector (NASDAQ:ALEC) Receives Buy Rating from HC Wainwright

Alector (NASDAQ:ALEC)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $35.00 target price on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Alector has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Alector Stock Down 6.8 %

Shares of NASDAQ ALEC opened at $4.26 on Thursday. The stock’s fifty day simple moving average is $5.10 and its 200 day simple moving average is $6.12. The stock has a market capitalization of $410.62 million, a price-to-earnings ratio of -3.09 and a beta of 0.77. Alector has a 52-week low of $3.66 and a 52-week high of $9.06.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. The business had revenue of $15.89 million during the quarter, compared to analyst estimates of $14.63 million. As a group, analysts anticipate that Alector will post -1.93 earnings per share for the current year.

Insider Transactions at Alector

In other Alector news, CFO Marc Grasso sold 6,920 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $33,216.00. Following the transaction, the chief financial officer now owns 138,037 shares in the company, valued at approximately $662,577.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Marc Grasso sold 6,920 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $33,216.00. Following the transaction, the chief financial officer now directly owns 138,037 shares of the company’s stock, valued at $662,577.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Romano sold 8,040 shares of Alector stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $38,592.00. Following the sale, the insider now directly owns 188,273 shares of the company’s stock, valued at approximately $903,710.40. The disclosure for this sale can be found here. Insiders sold 40,095 shares of company stock valued at $192,456 over the last three months. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alector

Several large investors have recently made changes to their positions in ALEC. Jacobs Levy Equity Management Inc. lifted its stake in Alector by 16.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 922,799 shares of the company’s stock valued at $5,555,000 after acquiring an additional 128,515 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Alector in the 1st quarter valued at $59,000. American International Group Inc. lifted its stake in shares of Alector by 13.0% in the 1st quarter. American International Group Inc. now owns 35,655 shares of the company’s stock valued at $215,000 after purchasing an additional 4,105 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Alector by 211.6% in the first quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock worth $2,675,000 after purchasing an additional 301,936 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Alector by 12.0% during the first quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after buying an additional 526,037 shares during the last quarter. 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.