Alector (NASDAQ:ALEC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alector (NASDAQ:ALEC) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also weighed in on the company. Morgan Stanley restated an “underweight” rating on shares of Alector in a report on Thursday, January 8th. BTIG Research upgraded shares of Alector from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alector in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.25.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $2.10 on Friday. The stock has a market capitalization of $229.22 million, a P/E ratio of -1.96 and a beta of 0.64. The business has a 50-day moving average of $1.77 and a two-hundred day moving average of $2.03. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.76 and a quick ratio of 3.76.

Insider Activity at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 41,687 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total value of $46,689.44. Following the completion of the sale, the insider owned 501,652 shares in the company, valued at approximately $561,850.24. This trade represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil Lindsay Berkley sold 37,261 shares of Alector stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total value of $41,732.32. Following the sale, the chief financial officer directly owned 374,309 shares in the company, valued at $419,226.08. The trade was a 9.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 196,104 shares of company stock worth $220,064. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC grew its holdings in shares of Alector by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock worth $28,000 after purchasing an additional 10,000 shares during the last quarter. Lexington Partners L.P. bought a new position in shares of Alector in the third quarter valued at about $30,000. Pinegrove Venture Partners LLC acquired a new position in Alector during the 3rd quarter worth about $30,000. Bronte Capital Management Pty Ltd. bought a new stake in Alector during the 4th quarter worth about $30,000. Finally, Prudential Financial Inc. acquired a new stake in Alector in the 2nd quarter valued at about $30,000. 85.83% of the stock is owned by institutional investors.

About Alector

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.