Alector (NASDAQ:ALEC) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Alector (NASDAQ:ALEC) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other equities research analysts have also recently weighed in on the company. BTIG Research raised Alector from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Tuesday, March 10th. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 target price on shares of Alector in a report on Monday, May 4th. Cantor Fitzgerald upgraded Alector from a “neutral” rating to an “overweight” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alector in a report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.63.

Alector Trading Down 13.9%

Shares of NASDAQ ALEC opened at $2.10 on Friday. Alector has a twelve month low of $1.01 and a twelve month high of $3.40. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $2.31 and a 200-day simple moving average of $1.87. The stock has a market capitalization of $233.16 million, a PE ratio of -1.76 and a beta of 0.64.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. Alector had a negative return on equity of 235.79% and a negative net margin of 680.83%.The business had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $9.67 million. On average, equities analysts forecast that Alector will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bronte Capital Management Pty Ltd. purchased a new position in Alector in the fourth quarter valued at $30,000. Lexington Partners L.P. purchased a new stake in Alector during the 3rd quarter worth about $30,000. Pinegrove Venture Partners LLC purchased a new stake in Alector during the 3rd quarter worth about $30,000. Prudential Financial Inc. purchased a new stake in Alector during the 2nd quarter worth about $30,000. Finally, Belvedere Trading LLC purchased a new stake in Alector during the 3rd quarter worth about $31,000. 85.83% of the stock is currently owned by hedge funds and other 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.