Analysts Set Alector, Inc. (NASDAQ:ALEC) PT at $14.00

Shares of Alector, Inc. (NASDAQ:ALEC) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $14.00.

ALEC has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Thursday, June 20th. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Alector in a research note on Thursday, June 20th.

Alector Stock Down 2.6 %

ALEC opened at $4.42 on Thursday. The stock’s 50 day moving average price is $4.94 and its two-hundred day moving average price is $6.01. The firm has a market capitalization of $426.04 million, a P/E ratio of -3.20 and a beta of 0.73. Alector has a 12-month low of $3.66 and a 12-month high of $9.06.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.10. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. The business had revenue of $15.89 million for the quarter, compared to the consensus estimate of $14.63 million. As a group, analysts anticipate that Alector will post -1.93 earnings per share for the current year.

Insider Activity

In related news, CEO Arnon Rosenthal sold 25,135 shares of the firm’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 $120,648.00. Following the sale, the chief executive officer now owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Arnon Rosenthal sold 25,135 shares of the 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 completion of the sale, the chief executive officer now directly owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gary Romano sold 8,040 shares of Alector stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $38,592.00. Following the completion of the transaction, the insider now directly owns 188,273 shares in the company, valued at approximately $903,710.40. The disclosure for this sale can be found here. Insiders sold 40,095 shares of company stock valued at $192,456 in the last quarter. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Alector during the 1st quarter worth about $40,000. Lazard Asset Management LLC bought a new stake in shares of Alector in the 1st quarter valued at about $59,000. China Universal Asset Management Co. Ltd. lifted its stake in Alector by 352.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock valued at $78,000 after purchasing an additional 7,584 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Alector during the 4th quarter worth approximately $81,000. Finally, Jasper Ridge Partners L.P. bought a new position in Alector during the third quarter worth $95,000. Institutional investors own 85.83% of the company’s stock.

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.