Alector (NASDAQ:ALEC) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Alector (NASDAQ:ALEC) in a research note published on Friday morning, MarketBeat.com reports. The firm issued an overweight rating and a $7.00 price objective on the stock.

Several other research analysts have also weighed in on ALEC. Wall Street Zen raised Alector from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Morgan Stanley boosted their price target on Alector from $2.00 to $3.00 and gave the company an “underweight” rating in a research report on Tuesday, October 6th. HC Wainwright started coverage on Alector in a research note on Friday, November 6th. They set a “strong-buy” rating for the company. UBS Group restated a “neutral” rating and issued a $1.50 price objective on shares of Alector in a report on Tuesday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alector in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.10.

Alector Stock Performance

Alector stock opened at $2.54 on Friday. Alector has a 1 year low of $1.09 and a 1 year high of $2.84. The firm has a 50 day moving average price of $2.07 and a 200 day moving average price of $2.05. The company has a market cap of $378.16 million, a price-to-earnings ratio of 7.00, a PEG ratio of 0.16 and a beta of 0.61.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of ($0.23) by $1.34. The firm had revenue of $162.87 million during the quarter, compared to analyst estimates of $2.19 million. Alector had a net margin of 23.87% and a return on equity of 112.21%. Sell-side analysts predict that Alector will post 0.48 EPS for the current year.

Insider Buying and Selling at Alector

In related news, CFO Neil Berkley sold 29,251 shares of Alector stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $77,807.66. Following the transaction, the chief financial officer owned 350,649 shares in the company, valued at approximately $932,726.34. The trade was a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arnon Rosenthal sold 72,606 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total transaction of $193,131.96. Following the sale, the chief executive officer directly owned 2,294,600 shares of the company’s stock, valued at approximately $6,103,636. This trade represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 111,303 shares of company stock valued at $295,633 in the last three months. Company insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALEC. Russell Investments Group Ltd. lifted its position in Alector by 8.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 106,614 shares of the company’s stock valued at $197,000 after purchasing an additional 8,118 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Alector during the 2nd quarter valued at about $39,000. Bank of New York Mellon Corp boosted its stake in Alector by 15.8% during the 1st quarter. Bank of New York Mellon Corp now owns 252,297 shares of the company’s stock valued at $542,000 after purchasing an additional 34,435 shares during the period. Sei Investments Co. grew its position in Alector by 218.9% in the 1st 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 last quarter. Finally, Hsbc Holdings PLC bought a new position in Alector in the 2nd quarter worth about $98,000. 85.83% of the stock is owned by hedge funds and other institutional investors.

Alector Company Profile

Alector, Inc. is a biotechnology company based in South San Francisco, California, that develops investigational therapies for neurodegenerative diseases. Its research focuses on the role of the immune system in the brain and how immune pathways may be used to address disease processes. The company’s approach draws on human genetics and immunology to identify potential therapeutic targets. Its research has included programs targeting progranulin and TREM2, proteins associated with brain health and neurodegenerative disease.