Brokerages Set Alector, Inc. (NASDAQ:ALEC) Target Price at $3.62

Alector, Inc. (NASDAQ:ALEC) has received an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.6250.

ALEC has been the subject of several recent research reports. Weiss Ratings raised Alector from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price objective on shares of Alector in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th.

Insider Activity

In related news, CFO Neil Lindsay Berkley sold 19,360 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 $38,139.20. Following the transaction, the chief financial officer owned 379,900 shares of the company’s stock, valued at $748,403. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arnon Rosenthal sold 87,216 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 $171,815.52. Following the transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,760 shares of company stock valued at $227,734 over the last 90 days. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Alector

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in Alector by 4.7% in the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after acquiring an additional 11,618 shares in the last quarter. Strs Ohio acquired a new position in shares of Alector during the 1st quarter worth about $126,000. Geode Capital Management LLC grew its holdings in shares of Alector by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock valued at $2,775,000 after acquiring an additional 19,970 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Alector in the second quarter valued at about $30,000. Finally, XTX Topco Ltd raised its position in Alector by 125.2% during the second quarter. XTX Topco Ltd now owns 73,338 shares of the company’s stock worth $103,000 after acquiring an additional 40,767 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Alector Stock Up 4.6%

NASDAQ ALEC opened at $2.05 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.26 and a quick ratio of 5.26. The firm has a market cap of $228.90 million, a PE ratio of -1.86 and a beta of 0.60. Alector has a one year low of $1.09 and a one year high of $3.40. The stock’s 50 day simple moving average is $1.70 and its 200 day simple moving average is $2.01.

Alector (NASDAQ:ALEC) last announced its earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The company had revenue of $3.32 million during 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%. As a group, sell-side analysts forecast that Alector will post -0.87 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.