Alector, Inc. (NASDAQ:ALEC) Receives $3.62 Consensus Target Price from Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.6250.

Several equities research analysts have commented on ALEC shares. Morgan Stanley restated an “underweight” rating and issued a $2.00 price target on shares of Alector in a research note on Monday, May 4th. Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. Finally, Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th.

Insider Transactions at Alector

In other Alector news, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $38,139.20. Following the sale, the chief financial officer directly owned 379,900 shares in the company, valued at approximately $748,403. The trade was a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arnon Rosenthal sold 87,216 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $171,815.52. Following the completion of the transaction, the chief executive officer owned 2,367,206 shares of the company’s stock, valued at $4,663,395.82. This trade represents a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,760 shares of company stock worth $227,734 over the last 90 days. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Alector

A number of institutional investors and hedge funds have recently modified their holdings of ALEC. Bank of America Corp DE lifted its stake in Alector by 183.2% during the first quarter. Bank of America Corp DE now owns 380,908 shares of the company’s stock valued at $819,000 after buying an additional 246,402 shares in the last quarter. Eversept Partners LP lifted its position in Alector by 34.3% in the 1st quarter. Eversept Partners LP now owns 1,351,106 shares of the company’s stock worth $2,905,000 after buying an additional 344,943 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Alector during the 1st quarter valued at $1,075,000. Spruce Street Capital LP boosted its stake in shares of Alector by 87.9% during the 1st quarter. Spruce Street Capital LP now owns 2,101,068 shares of the company’s stock valued at $4,517,000 after buying an additional 983,082 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Alector by 218.9% during the 1st quarter. Sei Investments Co. now owns 53,846 shares of the company’s stock valued at $116,000 after acquiring an additional 36,962 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

Alector Price Performance

Shares of ALEC opened at $1.49 on Friday. Alector has a 12 month low of $1.09 and a 12 month high of $3.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.25 and a quick ratio of 5.25. The stock has a fifty day moving average price of $1.81 and a 200 day moving average price of $2.02. The company has a market cap of $165.43 million, a P/E ratio of -1.25 and a beta of 0.60.

Alector (NASDAQ:ALEC) last posted its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. The company had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $9.67 million. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%. On average, research analysts forecast that Alector will post -0.86 earnings per share for the current year.

Alector Company Profile

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.