Alector, Inc. (NASDAQ:ALEC) Stock Has Average Price Target of $4.62

Alector, Inc. (NASDAQ:ALEC) has received an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.62.

A number of equities research analysts have recently weighed in on the company. HC Wainwright boosted their target price on Alector from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Morgan Stanley upped their target price on shares of Alector from $2.00 to $3.00 and gave the company an “underweight” rating in a research report on Tuesday, October 6th. UBS Group reaffirmed a “neutral” rating and issued a $1.50 target price on shares of Alector in a research note on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th.

Insider Activity at Alector

In other Alector news, CFO Neil Berkley sold 29,251 shares of Alector stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $77,807.66. Following the completion of the sale, the chief financial officer owned 350,649 shares of the company’s stock, valued at approximately $932,726.34. The trade was a 7.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 72,606 shares of Alector stock in a transaction 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 sale, the chief executive officer directly owned 2,294,600 shares of the company’s stock, valued at $6,103,636. This represents a 3.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 111,303 shares of company stock worth $295,633 over the last 90 days. 8.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Alector during the second quarter worth $39,000. Bank of New York Mellon Corp increased its holdings in Alector by 15.8% in the first quarter. Bank of New York Mellon Corp now owns 252,297 shares of the company’s stock valued at $542,000 after purchasing an additional 34,435 shares during the last quarter. Sei Investments Co. increased its holdings in Alector by 218.9% in the first quarter. Sei Investments Co. now owns 53,846 shares of the company’s stock valued at $116,000 after purchasing an additional 36,962 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Alector in the second quarter valued at about $98,000. Finally, Ieq Capital LLC acquired a new position in Alector in the second quarter valued at about $122,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Trading Down 1.3%

ALEC stock opened at $2.21 on Tuesday. Alector has a fifty-two week low of $1.09 and a fifty-two week high of $2.76. The stock has a market capitalization of $246.77 million, a price-to-earnings ratio of -2.01 and a beta of 0.62. 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 business has a fifty day moving average price of $2.08 and a 200 day moving average price of $2.03.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. Alector had a negative return on equity of 531.03% and a negative net margin of 850.13%. The business had revenue of $3.32 million during the quarter, compared to analysts’ expectations of $1.71 million. Analysts expect that Alector will post -0.47 EPS for the current fiscal year.

About Alector

Alector, Inc (NASDAQ: ALEC) is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company’s research platform, known as immuno-neurology, is designed to use the body’s immune system to protect or restore the brain’s ability to maintain healthy neural connections.

Alector’s investigational pipeline has included antibody-based treatments for conditions such as frontotemporal dementia and Alzheimer’s disease. Its programs have targeted biological pathways associated with neurodegeneration, including progranulin and TREM2.