Alector (NASDAQ:ALEC) Lowered to Neutral Rating by BTIG Research

Alector (NASDAQ:ALEC) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday,Finviz reports.

A number of other research firms also recently weighed in on ALEC. Wall Street Zen downgraded Alector from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Mizuho set a $1.50 target price on Alector and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen downgraded Alector from a “buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alector in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald downgraded Alector from an “overweight” rating to a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $3.83.

Alector Stock Down 3.0%

ALEC stock opened at $3.21 on Wednesday. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $2.82 and a two-hundred day moving average price of $1.88. The company has a market cap of $324.88 million, a price-to-earnings ratio of -2.77 and a beta of 0.99. Alector has a twelve month low of $0.87 and a twelve month high of $6.14.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. The firm had revenue of $7.87 million during the quarter, compared to the consensus estimate of $2.76 million. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%. Alector has set its FY 2025 guidance at EPS. Analysts anticipate that Alector will post -1.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paula Hammond sold 14,000 shares of Alector stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total transaction of $33,040.00. Following the completion of the sale, the director directly owned 74,909 shares of the company’s stock, valued at approximately $176,785.24. This trade represents a 15.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company’s stock.

Institutional Trading of Alector

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in Alector by 39.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,440,661 shares of the company’s stock valued at $1,768,000 after acquiring an additional 410,205 shares in the last quarter. Ieq Capital LLC acquired a new position in Alector in the 1st quarter valued at $99,000. Jacobs Levy Equity Management Inc. raised its holdings in Alector by 25.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,334,032 shares of the company’s stock valued at $1,641,000 after acquiring an additional 274,341 shares in the last quarter. Invesco Ltd. raised its holdings in Alector by 209.6% in the 1st quarter. Invesco Ltd. now owns 148,576 shares of the company’s stock valued at $183,000 after acquiring an additional 100,591 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Alector in the 1st quarter valued at $170,000. 85.83% of the stock is owned by institutional investors and hedge funds.

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.