Alector, Inc. (NASDAQ:ALEC) Given Average Rating of “Reduce” by Brokerages

Alector, Inc. (NASDAQ:ALEC) has been given a consensus rating of “Reduce” by the ten brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.40.

ALEC has been the subject of several recent research reports. William Blair cut shares of Alector from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 22nd. Mizuho set a $1.50 target price on Alector and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Alector in a report on Wednesday, October 8th. HC Wainwright decreased their price objective on Alector from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, October 22nd. Finally, BTIG Research downgraded Alector from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 22nd.

Alector Trading Up 1.6%

ALEC opened at $1.30 on Friday. Alector has a 52 week low of $0.87 and a 52 week high of $3.40. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $1.94. The firm has a market cap of $141.90 million, a P/E ratio of -1.21 and a beta of 0.67.

Alector (NASDAQ:ALEC) last posted its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.08. The firm had revenue of $3.26 million for the quarter, compared to analyst estimates of $3.49 million. Alector had a negative return on equity of 123.02% and a negative net margin of 156.03%. On average, equities analysts expect that Alector will post -1.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Arnon Rosenthal sold 104,347 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $116,868.64. Following the completion of the transaction, the chief executive officer owned 2,420,040 shares in the company, valued at approximately $2,710,444.80. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sara Kenkare-Mitra sold 41,687 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total value of $46,689.44. Following the completion of the transaction, the insider directly owned 501,652 shares in the company, valued at $561,850.24. This trade represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 196,104 shares of company stock worth $220,064 in the last 90 days. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALEC. Lexington Partners L.P. acquired a new stake in shares of Alector during the 3rd quarter worth about $30,000. Pinegrove Venture Partners LLC purchased a new position in Alector in the third quarter valued at approximately $30,000. Belvedere Trading LLC acquired a new stake in Alector during the third quarter worth approximately $31,000. HBK Sorce Advisory LLC purchased a new stake in shares of Alector during the 3rd quarter worth approximately $34,000. Finally, Savant Capital LLC acquired a new position in shares of Alector in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Company Profile

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.