Alector, Inc. (NASDAQ:ALEC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC) have earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $14.67.

Several equities analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Monday. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Alector in a research report on Thursday, June 20th.

Alector Price Performance

Shares of ALEC stock opened at $5.27 on Tuesday. The company has a market capitalization of $507.95 million, a P/E ratio of -3.82 and a beta of 0.68. The company’s 50-day simple moving average is $5.31 and its two-hundred day simple moving average is $5.44. Alector has a one year low of $3.66 and a one year high of $8.90.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same quarter in the previous year, the business earned $0.02 earnings per share. On average, research analysts expect that Alector will post -1.92 EPS for the current fiscal year.

Insider Activity at Alector

In other Alector news, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, the insider now directly owns 291,715 shares in the company, valued at approximately $1,423,569.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock valued at $286,013 over the last quarter. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alector

Large investors have recently modified their holdings of the business. Gladius Capital Management LP acquired a new stake in Alector in the 2nd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alector during the first quarter worth $40,000. Lazard Asset Management LLC purchased a new stake in shares of Alector during the first quarter valued at $59,000. Caxton Associates LP increased its position in shares of Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after acquiring an additional 5,933 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Alector by 89.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock worth $111,000 after acquiring an additional 8,670 shares during the last quarter. 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.