Alector, Inc. (NASDAQ:ALEC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.67.

A number of research firms have weighed in on ALEC. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Alector in a report on Thursday, June 20th.

Insider Activity

In other news, Director Paula Hammond sold 10,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.06, for a total transaction of $53,130.00. Following the completion of the transaction, the director now directly owns 60,209 shares in the company, valued at approximately $304,657.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Paula Hammond sold 10,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.06, for a total transaction of $53,130.00. Following the completion of the transaction, the director now directly owns 60,209 shares in the company, valued at approximately $304,657.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Marc Grasso sold 7,297 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the transaction, the chief financial officer now owns 130,740 shares of the company’s stock, valued at $638,011.20. The disclosure for this sale can be found here. In the last three months, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alector

Large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new position in Alector during the second quarter worth $29,000. Allspring Global Investments Holdings LLC bought a new position in Alector during the first quarter worth $40,000. Lazard Asset Management LLC bought a new position in Alector during the first quarter worth $59,000. China Universal Asset Management Co. Ltd. lifted its stake in Alector by 89.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock worth $111,000 after purchasing an additional 8,670 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after purchasing an additional 3,827 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors.

Alector Stock Performance

ALEC opened at $5.68 on Tuesday. The firm has a 50 day moving average price of $5.46 and a 200 day moving average price of $5.39. The company has a market cap of $547.47 million, a PE ratio of -4.12 and a beta of 0.68. Alector has a 1 year low of $3.66 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC) last posted its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.04 million. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. During the same quarter in the prior year, the company earned $0.02 EPS. On average, sell-side analysts predict that Alector will post -1.92 earnings per share for the current year.

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.