Brokerages Set Alector, Inc. (NASDAQ:ALEC) Price Target at $3.75

Alector, Inc. (NASDAQ:ALEC) has received an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.75.

Several analysts have recently issued reports on ALEC shares. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. Bank of America lowered shares of Alector from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $9.00 to $1.00 in a research note on Wednesday, December 4th. HC Wainwright reduced their price target on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a report on Friday, November 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus downgraded Alector from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Monday, December 16th.

Insider Transactions at Alector

In related news, CFO Marc Grasso sold 16,489 shares of Alector stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $41,552.28. Following the completion of the sale, the chief financial officer now owns 330,651 shares of the company’s stock, valued at approximately $833,240.52. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the sale, the chief executive officer now owns 2,507,074 shares of the company’s stock, valued at approximately $6,317,826.48. This represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,161 shares of company stock valued at $239,806 in the last three months. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alector

Institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in shares of Alector in the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Alector during the third quarter valued at about $40,000. nVerses Capital LLC acquired a new stake in shares of Alector in the third quarter valued at about $51,000. Valence8 US LP acquired a new stake in shares of Alector in the third quarter valued at about $69,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Alector by 65.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $87,000 after purchasing an additional 7,395 shares during the period. 85.83% of the stock is currently owned by institutional investors.

Alector Stock Performance

Shares of ALEC stock opened at $1.92 on Friday. The stock has a market cap of $188.03 million, a PE ratio of -1.13 and a beta of 0.51. Alector has a 1 year low of $1.73 and a 1 year high of $8.90. The stock has a fifty day moving average price of $3.76 and a 200 day moving average price of $4.64.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. The business had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. As a group, equities research analysts predict that Alector will post -1.85 earnings per share for the current year.

About Alector

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.