Alector, Inc. (NASDAQ:ALEC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC) have been given an average rating of “Hold” by the eight brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $3.6250.

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Alector in a report on Monday, May 4th. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a report on Wednesday, April 15th. Finally, Morgan Stanley reissued an “underweight” rating and set a $2.00 price target on shares of Alector in a research report on Monday, May 4th.

Insider Activity at Alector

In other news, CFO Neil Lindsay Berkley sold 19,360 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $38,139.20. Following the completion of the sale, the chief financial officer directly owned 379,900 shares of the company’s stock, valued at $748,403. This trade represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 87,216 shares of Alector stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $171,815.52. Following the completion of the sale, the chief executive officer directly owned 2,367,206 shares in the company, valued at approximately $4,663,395.82. This represents a 3.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 115,760 shares of company stock worth $227,734. Insiders own 8.30% of the company’s stock.

Institutional Trading of Alector

A number of institutional investors have recently modified their holdings of ALEC. Bank of America Corp DE raised its stake in shares of Alector by 183.2% during the 1st quarter. Bank of America Corp DE now owns 380,908 shares of the company’s stock valued at $819,000 after purchasing an additional 246,402 shares during the period. Eversept Partners LP grew its stake in Alector by 34.3% during the first quarter. Eversept Partners LP now owns 1,351,106 shares of the company’s stock valued at $2,905,000 after acquiring an additional 344,943 shares in the last quarter. Affinity Asset Advisors LLC purchased a new position in shares of Alector during the 1st quarter valued at $1,075,000. Spruce Street Capital LP increased its holdings in shares of Alector by 87.9% in the first quarter. Spruce Street Capital LP now owns 2,101,068 shares of the company’s stock worth $4,517,000 after purchasing an additional 983,082 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Alector by 218.9% in the first quarter. Sei Investments Co. now owns 53,846 shares of the company’s stock worth $116,000 after purchasing an additional 36,962 shares during the period. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Trading Down 0.7%

ALEC opened at $1.48 on Friday. Alector has a twelve month low of $1.09 and a twelve month high of $3.40. The company has a fifty day moving average of $1.80 and a 200-day moving average of $2.02. The stock has a market cap of $164.32 million, a PE ratio of -1.24 and a beta of 0.60. The company has a quick ratio of 5.25, a current ratio of 5.25 and a debt-to-equity ratio of 0.80.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. The firm had revenue of $1.05 million during the quarter, compared to the consensus estimate of $9.67 million. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%. On average, sell-side analysts predict that Alector will post -0.86 EPS for the current year.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.