Alector, Inc. (NASDAQ:ALEC) Receives $3.75 Average Target Price from Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC) have been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.75.

ALEC has been the subject of a number of research reports. Mizuho lowered shares of Alector from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $9.00 to $2.50 in a research report on Tuesday, December 17th. Morgan Stanley downgraded shares of Alector from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $10.00 to $3.00 in a report on Tuesday, November 26th. Stifel Nicolaus downgraded Alector from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Monday, December 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Finally, BTIG Research dropped their price objective on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th.

Alector Stock Down 2.4 %

ALEC opened at $1.61 on Friday. Alector has a twelve month low of $1.58 and a twelve month high of $7.58. The company’s 50-day moving average price is $1.87 and its two-hundred day moving average price is $3.85. The stock has a market cap of $157.67 million, a price-to-earnings ratio of -0.95 and a beta of 0.61.

Insider Activity at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 26,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the sale, the insider now owns 565,215 shares in the company, valued at approximately $1,424,341.80. This trade represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the transaction, the chief executive officer now directly owns 2,507,074 shares in the company, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,161 shares of company stock worth $239,806 in the last three months. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Alector

Several institutional investors and hedge funds have recently modified their holdings of ALEC. JPMorgan Chase & Co. lifted its holdings in Alector by 64.7% in the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock worth $12,716,000 after buying an additional 1,072,298 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Alector by 18.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock valued at $4,742,000 after purchasing an additional 159,111 shares in the last quarter. Geode Capital Management LLC grew its stake in Alector by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after purchasing an additional 148,357 shares during the period. FMR LLC raised its holdings in Alector by 1.0% in the third quarter. FMR LLC now owns 14,595,014 shares of the company’s stock worth $68,013,000 after purchasing an additional 137,794 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Alector in the third quarter worth $639,000. 85.83% of the stock is owned by hedge funds and other 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.