Brokerages Set Alector, Inc. (NASDAQ:ALEC) Target Price at $14.67

Alector, Inc. (NASDAQ:ALEC) has earned an average rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $14.67.

A number of analysts recently weighed in on ALEC shares. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Alector in a research note on Thursday, June 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research note on Monday, July 29th.

Insider Buying and Selling at Alector

In other news, insider Gary Romano sold 8,040 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $38,592.00. Following the transaction, the insider now directly owns 188,273 shares of the company’s stock, valued at $903,710.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Gary Romano sold 8,040 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $38,592.00. Following the completion of the transaction, the insider now directly owns 188,273 shares of the company’s stock, valued at approximately $903,710.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $120,648.00. Following the sale, the chief executive officer now directly owns 1,975,245 shares in the company, valued at approximately $9,481,176. The disclosure for this sale can be found here. Insiders sold a total of 50,595 shares of company stock worth $245,586 over the last three months. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Alector

Several hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alector by 3.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,239 shares of the company’s stock valued at $489,000 after purchasing an additional 2,120 shares during the period. Federated Hermes Inc. lifted its stake in Alector by 4.1% during the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock valued at $311,000 after acquiring an additional 2,709 shares during the period. Susquehanna Fundamental Investments LLC lifted its stake in Alector by 2.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock valued at $589,000 after acquiring an additional 3,500 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alector by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after acquiring an additional 3,790 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Alector by 24.1% in the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after acquiring an additional 3,827 shares during the period. 85.83% of the stock is owned by institutional investors and hedge funds.

Alector Price Performance

Alector stock opened at $5.07 on Friday. The stock has a market cap of $488.67 million, a price-to-earnings ratio of -3.67 and a beta of 0.72. The firm has a 50-day moving average of $5.18 and a two-hundred day moving average of $5.54. Alector has a 1 year low of $3.66 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Research analysts expect that Alector will post -1.93 earnings per share for the current year.

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.