Alector, Inc. (NASDAQ:ALEC) Stock Has Average Price Target of $3.62 According to Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $3.62.

Separately, Weiss Ratings raised Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th.

Alector Stock Performance

NASDAQ ALEC opened at $1.81 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26. The firm has a market cap of $202.10 million, a price-to-earnings ratio of -1.65 and a beta of 0.62. The firm has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.04. Alector has a one year low of $1.09 and a one year high of $3.40.

Alector (NASDAQ:ALEC) last announced its earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.02. The firm had revenue of $3.32 million for the quarter, compared to the consensus estimate of $1.71 million. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. Equities research analysts anticipate that Alector will post -0.87 EPS for the current fiscal year.

Insider Activity

In other news, CFO Neil Berkley sold 29,251 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total transaction of $77,807.66. Following the completion of the transaction, the chief financial officer directly owned 350,649 shares of the company’s stock, valued at approximately $932,726.34. The trade was a 7.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 72,606 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total transaction of $193,131.96. Following the transaction, the chief executive officer owned 2,294,600 shares of the company’s stock, valued at $6,103,636. This trade represents a 3.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 111,303 shares of company stock valued at $295,633 in the last quarter. Company insiders own 8.30% of the company’s stock.

Institutional Trading of Alector

A number of institutional investors have recently bought and sold shares of ALEC. BlackRock Inc. acquired a new position in shares of Alector during the 2nd quarter worth about $15,774,000. Nantahala Capital Management LLC purchased a new stake in Alector during the second quarter worth approximately $8,679,399. Foresite Capital Management IV LLC acquired a new position in Alector in the fourth quarter valued at approximately $6,064,000. Merck & Co. Inc. acquired a new position in shares of Alector in the 2nd quarter valued at $7,126,896. Finally, 683 Capital Management LLC boosted its stake in Alector by 235.0% in the fourth quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock valued at $5,226,000 after acquiring an additional 2,350,000 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

About Alector

Alector, Inc is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company’s approach, known as immuno-neurology, seeks to use the immune system to protect brain health and address biological mechanisms involved in conditions such as Alzheimer’s disease, frontotemporal dementia and Parkinson’s disease.

Alector’s pipeline includes latozinemab, an antibody designed to increase levels of progranulin, a protein associated with the health and function of brain cells.