Shares of Alector, Inc. (NASDAQ:ALEC - Get Free Report) have been assigned an average rating of "Hold" from the seven brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.75.
A number of equities analysts recently issued reports on ALEC shares. Bank of America cut Alector from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $9.00 to $1.00 in a research report on Wednesday, December 4th. HC Wainwright lowered their target price on Alector from $35.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, November 29th. Cantor Fitzgerald reissued an "overweight" rating on shares of Alector in a report on Tuesday, November 26th. Morgan Stanley cut shares of Alector from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Finally, Mizuho lowered shares of Alector from an "outperform" rating to a "neutral" rating and cut their target price for the company from $9.00 to $2.50 in a research note on Tuesday.
Read Our Latest Stock Report on Alector
Shares of Alector stock opened at $1.86 on Friday. Alector has a fifty-two week low of $1.73 and a fifty-two week high of $8.90. The firm has a market cap of $182.16 million, a P/E ratio of -1.09 and a beta of 0.51. The business has a 50-day moving average price of $3.82 and a 200 day moving average price of $4.66.
Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.53) by $0.10. The business had revenue of $15.34 million during the quarter, compared to analyst estimates of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. As a group, equities research analysts anticipate that Alector will post -1.85 earnings per share for the current year.
In related news, CEO Arnon Rosenthal sold 52,172 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares in the company, valued at approximately $6,317,826.48. The trade was a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction of $66,780.00. Following the completion of the transaction, the insider now directly owns 565,215 shares in the company, valued at approximately $1,424,341.80. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,161 shares of company stock worth $239,806. 9.10% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of ALEC. Point72 DIFC Ltd bought a new position in Alector in the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Alector in the 3rd quarter valued at $40,000. nVerses Capital LLC bought a new position in shares of Alector during the 3rd quarter worth about $51,000. Valence8 US LP acquired a new stake in shares of Alector during the 3rd quarter valued at about $69,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Alector by 65.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company's stock valued at $87,000 after acquiring an additional 7,395 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Alector, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alector wasn't on the list.
While Alector currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.