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

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

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alector presently has a consensus rating of “Buy” and an average price target of $17.75.

Alector Trading Up 4.9 %

NASDAQ:ALEC opened at $5.24 on Thursday. The company has a 50-day moving average of $5.05 and a 200-day moving average of $5.12. The firm has a market cap of $509.96 million, a price-to-earnings ratio of -2.91 and a beta of 0.66. Alector has a twelve month low of $3.66 and a twelve month high of $8.90.

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

Insiders Place Their Bets

In other news, insider Sara Kenkare-Mitra sold 13,926 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 value of $67,958.88. Following the completion of the sale, the insider now owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now owns 291,715 shares in the company, valued at $1,423,569.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,222 shares of company stock worth $286,013. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of hedge funds have recently modified their holdings of ALEC. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alector during the 1st quarter valued at about $40,000. Swiss National Bank boosted its stake in shares of Alector by 6.5% during the 1st quarter. Swiss National Bank now owns 131,900 shares of the company’s stock worth $794,000 after acquiring an additional 8,000 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Alector during the first quarter worth approximately $760,000. Russell Investments Group Ltd. raised its position in shares of Alector by 9.9% in the first quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock valued at $472,000 after purchasing an additional 7,066 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Alector by 24.1% in the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after buying an additional 3,827 shares during the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

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.