Alector (NASDAQ:ALEC) Rating Lowered to “Hold” at TD Cowen

Alector (NASDAQ:ALEC) was downgraded by stock analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Wednesday,Finviz reports.

A number of other equities research analysts also recently issued reports on the stock. Cowen downgraded shares of Alector to a “hold” rating in a research note on Wednesday. Mizuho set a $1.50 price objective on shares of Alector and gave the company a “neutral” rating in a report on Wednesday. BTIG Research restated a “buy” rating and issued a $5.00 price objective on shares of Alector in a report on Thursday, September 25th. Wall Street Zen cut shares of Alector from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Cantor Fitzgerald cut shares of Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $3.83.

Alector Price Performance

Shares of ALEC stock opened at $3.21 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.78 and a quick ratio of 3.78. The firm’s 50-day moving average is $2.82 and its two-hundred day moving average is $1.88. Alector has a 12 month low of $0.87 and a 12 month high of $6.14. The company has a market capitalization of $324.88 million, a PE ratio of -2.77 and a beta of 0.99.

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

Insider Buying and Selling at Alector

In other Alector news, Director Paula Hammond sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $2.36, for a total transaction of $33,040.00. Following the completion of the transaction, the director owned 74,909 shares in the company, valued at $176,785.24. The trade was a 15.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in Alector by 50.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,170,388 shares of the company’s stock worth $3,033,000 after acquiring an additional 729,727 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alector by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock worth $2,775,000 after acquiring an additional 19,970 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Alector by 25.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,334,032 shares of the company’s stock valued at $1,641,000 after buying an additional 274,341 shares in the last quarter. Sio Capital Management LLC boosted its holdings in shares of Alector by 1.0% in the 2nd quarter. Sio Capital Management LLC now owns 845,531 shares of the company’s stock valued at $1,184,000 after buying an additional 8,372 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Alector by 483.3% in the 2nd quarter. TD Asset Management Inc now owns 651,738 shares of the company’s stock valued at $912,000 after buying an additional 540,000 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

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.