Alector (NASDAQ:ALEC) Given New $5.00 Price Target at BTIG Research

Alector (NASDAQ:ALEC) had its price target decreased by BTIG Research from $16.00 to $5.00 in a report released on Tuesday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday. Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $10.00 to $3.00 in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Alector in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Alector Stock Performance

NASDAQ:ALEC opened at $2.57 on Tuesday. Alector has a fifty-two week low of $2.37 and a fifty-two week high of $8.90. The company has a 50 day simple moving average of $4.88 and a two-hundred day simple moving average of $5.06. The company has a market capitalization of $251.68 million, a PE ratio of -1.52 and a beta of 0.66.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Research analysts predict that Alector will post -1.87 EPS for the current year.

Insiders Place Their Bets

In other Alector news, CFO Marc Grasso sold 7,297 shares of the firm’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 $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at approximately $638,011.20. This trade represents a 5.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 shares of Alector 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 $1,423,569.20. This represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,722 shares of company stock valued at $232,883. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in shares of Alector by 9.9% in the 1st quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock worth $472,000 after buying an additional 7,066 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after acquiring an additional 3,827 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 526,037 shares during the period. American International Group Inc. boosted its position in Alector by 13.0% in the first quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after purchasing an additional 4,105 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Alector in the first quarter worth $59,000. 85.83% of the stock is owned by institutional investors.

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.