Alector (NASDAQ:ALEC) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Alector (NASDAQ:ALEC) from a hold rating to a sell rating in a research note published on Sunday.

ALEC has been the topic of a number of other reports. BTIG Research raised Alector from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alector in a report on Wednesday, January 21st. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Alector in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.25.

Alector Stock Performance

Shares of Alector stock opened at $2.11 on Friday. The company’s 50 day moving average price is $1.88 and its two-hundred day moving average price is $2.03. The firm has a market capitalization of $232.86 million, a P/E ratio of -1.52 and a beta of 0.58. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.83 and a quick ratio of 3.83.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Alector had a negative return on equity of 224.96% and a negative net margin of 679.16%.The company had revenue of $6.24 million during the quarter, compared to analysts’ expectations of $1.78 million. On average, equities analysts forecast that Alector will post -1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alector

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in Alector by 4.7% in the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after buying an additional 11,618 shares during the period. Strs Ohio acquired a new stake in Alector during the 1st quarter worth about $126,000. Bank of Montreal Can bought a new position in shares of Alector in the 2nd quarter worth about $73,000. Los Angeles Capital Management LLC lifted its stake in shares of Alector by 5.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 151,896 shares of the company’s stock valued at $213,000 after purchasing an additional 7,600 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Alector by 50.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,170,388 shares of the company’s stock valued at $3,033,000 after purchasing an additional 729,727 shares in the last quarter. 85.83% of the stock is owned by institutional investors.

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.