Analysts Set Alector, Inc. (NASDAQ:ALEC) Target Price at $3.63

Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $3.6250.

A number of equities analysts have weighed in on ALEC shares. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alector in a research report on Monday, May 4th. BTIG Research upgraded shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Tuesday, March 10th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $2.00 price target on shares of Alector in a research report on Monday, May 4th.

Insider Activity at Alector

In other news, CEO Arnon Rosenthal sold 87,216 shares of Alector 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 sale, the chief executive officer owned 2,367,206 shares in the company, valued at $4,663,395.82. The trade was a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil Lindsay Berkley sold 19,360 shares of Alector stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $38,139.20. Following the sale, the chief financial officer owned 379,900 shares of the company’s stock, valued at approximately $748,403. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 118,580 shares of company stock valued at $235,207. 8.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alector

Institutional investors have recently modified their holdings of the business. Lexington Partners L.P. acquired a new stake in shares of Alector during the 3rd quarter worth approximately $30,000. Savant Capital LLC acquired a new stake in shares of Alector during the 3rd quarter worth approximately $35,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Alector during the 3rd quarter worth approximately $37,000. Bronte Capital Management Pty Ltd. acquired a new stake in shares of Alector during the 4th quarter worth approximately $30,000. Finally, Hershey Trust Co. grew its position in shares of Alector by 100.0% during the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after buying an additional 10,286 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Trading Down 9.0%

Shares of NASDAQ ALEC opened at $1.78 on Friday. Alector has a 1-year low of $1.09 and a 1-year high of $3.40. The company has a market cap of $197.08 million, a PE ratio of -1.49 and a beta of 0.61. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $2.29 and a two-hundred day moving average of $1.94.

Alector (NASDAQ:ALEC) last announced its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. The company had revenue of $1.05 million during the quarter, compared to the consensus estimate of $9.67 million. As a group, equities analysts expect that Alector will post -0.86 earnings per share for the current fiscal 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.