Alector (NASDAQ:ALEC) Rating Lowered to Neutral at Mizuho

Mizuho lowered shares of Alector (NASDAQ:ALEC) from an outperform rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has $2.50 price objective on the stock, down from their prior price objective of $9.00.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $9.00 to $1.00 in a research note on Wednesday, December 4th. Stifel Nicolaus downgraded shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research note on Monday. HC Wainwright cut their price objective on shares of Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Alector currently has a consensus rating of “Hold” and a consensus target price of $3.75.

Alector Stock Performance

Alector stock opened at $1.89 on Tuesday. The stock has a market cap of $185.09 million, a P/E ratio of -1.11 and a beta of 0.51. Alector has a fifty-two week low of $1.85 and a fifty-two week high of $8.90. The firm’s fifty day moving average price is $4.05 and its 200-day moving average price is $4.74.

Alector (NASDAQ:ALEC) last announced its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The business had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Sell-side analysts predict that Alector will post -1.85 earnings per share for the current year.

Insider Activity at Alector

In related news, CEO Arnon Rosenthal sold 52,172 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the transaction, the chief executive officer now directly owns 2,507,074 shares of the company’s stock, valued at $6,317,826.48. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Kenkare-Mitra sold 26,500 shares of Alector stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the sale, the insider now directly owns 565,215 shares in the company, valued at approximately $1,424,341.80. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,161 shares of company stock worth $239,806 in the last three months. 9.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. boosted its stake in Alector by 18.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock worth $4,742,000 after acquiring an additional 159,111 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alector by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after purchasing an additional 148,357 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Alector by 32.8% in the 2nd quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock worth $2,681,000 after buying an additional 146,015 shares during the last quarter. FMR LLC increased its position in Alector by 1.0% during the 3rd quarter. FMR LLC now owns 14,595,014 shares of the company’s stock valued at $68,013,000 after buying an additional 137,794 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Alector during the 3rd quarter valued at approximately $639,000. 85.83% of the stock is currently owned by institutional investors.

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.