Alector (NASDAQ:ALEC) Rating Lowered to Neutral at Mizuho

Alector (NASDAQ:ALEC) was downgraded by equities researchers at Mizuho from an “outperform” rating to a “neutral” rating in a report released on Wednesday, Marketbeat reports. They currently have a $1.50 target price on the stock. Mizuho’s target price indicates a potential downside of 6.83% from the company’s previous close.

Several other research firms also recently weighed in on ALEC. Cowen downgraded Alector to a “hold” rating in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a report on Wednesday, October 8th. BTIG Research lowered shares of Alector from a “buy” rating to a “neutral” rating in a report on Wednesday. William Blair lowered shares of Alector from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Cantor Fitzgerald lowered shares of Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $3.00.

Alector Trading Down 49.8%

Shares of ALEC stock opened at $1.61 on Wednesday. The stock’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $1.88. The company has a market cap of $162.95 million, a PE ratio of -1.39 and a beta of 0.99. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $6.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.78 and a current ratio of 3.78.

Alector (NASDAQ:ALEC) last issued its earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. The firm had revenue of $7.87 million for the quarter, compared to the consensus estimate of $2.76 million. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%. Alector has set its FY 2025 guidance at EPS. Equities analysts predict that Alector will post -1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Alector news, Director Paula Hammond sold 14,000 shares of Alector stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total transaction of $33,040.00. Following the transaction, the director directly owned 74,909 shares of the company’s stock, valued at approximately $176,785.24. The trade was a 15.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALEC. Bank of America Corp DE raised its position in shares of Alector by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock worth $481,000 after acquiring an additional 5,927 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Alector by 5.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 151,896 shares of the company’s stock valued at $213,000 after acquiring an additional 7,600 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Alector by 26.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 38,000 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares during the period. Sio Capital Management LLC lifted its position in shares of Alector by 1.0% during the 2nd quarter. Sio Capital Management LLC now owns 845,531 shares of the company’s stock valued at $1,184,000 after acquiring an additional 8,372 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in shares of Alector by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock valued at $28,000 after acquiring an additional 10,000 shares during the period. 85.83% of the stock is owned by institutional investors and hedge funds.

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.