Alector (NASDAQ:ALEC) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Alector (NASDAQ:ALEC) from a hold rating to a sell rating in a report issued on Friday morning.

Other equities research analysts have also recently issued reports about the stock. William Blair cut shares of Alector from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 22nd. HC Wainwright dropped their price target on Alector from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Mizuho set a $1.50 price objective on Alector and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald downgraded Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alector in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alector currently has a consensus rating of “Reduce” and an average price target of $3.00.

Alector Trading Down 0.4%

NASDAQ:ALEC opened at $1.35 on Friday. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76. The stock has a market capitalization of $146.81 million, a PE ratio of -1.26 and a beta of 0.93. The business’s 50-day simple moving average is $2.13 and its 200-day simple moving average is $1.93.

Alector (NASDAQ:ALEC) last posted its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.08. Alector had a negative return on equity of 123.02% and a negative net margin of 156.03%.The business had revenue of $3.26 million during the quarter, compared to analysts’ expectations of $3.49 million. Alector has set its FY 2025 guidance at EPS. Sell-side analysts expect that Alector will post -1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alector

A number of institutional investors have recently added to or reduced their stakes in ALEC. Jasper Ridge Partners L.P. lifted its stake in Alector by 134.3% in the third quarter. Jasper Ridge Partners L.P. now owns 71,776 shares of the company’s stock valued at $212,000 after acquiring an additional 41,144 shares during the last quarter. Utah Retirement Systems raised its holdings in shares of Alector by 40.0% in the 3rd quarter. Utah Retirement Systems now owns 72,002 shares of the company’s stock valued at $213,000 after purchasing an additional 20,572 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Alector by 763.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 68,200 shares of the company’s stock valued at $202,000 after purchasing an additional 60,300 shares during the last quarter. Millennium Management LLC lifted its stake in Alector by 181.2% in the 3rd quarter. Millennium Management LLC now owns 1,155,027 shares of the company’s stock valued at $3,419,000 after purchasing an additional 744,224 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its holdings in Alector by 14.2% during the third quarter. Boothbay Fund Management LLC now owns 524,077 shares of the company’s stock worth $1,551,000 after purchasing an additional 65,214 shares during the period. 85.83% of the stock is currently 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.