Alector, Inc. (NASDAQ:ALEC) Given Consensus Recommendation of “Hold” by Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $3.75.

Several equities analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Alector from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. Bank of America downgraded shares of Alector from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $9.00 to $1.00 in a research note on Wednesday, December 4th. Mizuho downgraded shares of Alector from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. Finally, BTIG Research cut their price objective on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th.

Insider Activity

In other Alector news, insider Sara Kenkare-Mitra sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the transaction, the insider now owns 565,215 shares of the company’s stock, valued at $1,424,341.80. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of the transaction, the chief executive officer now directly owns 2,507,074 shares of the company’s stock, valued at approximately $6,317,826.48. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,161 shares of company stock worth $239,806. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alector

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Alector by 64.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock valued at $12,716,000 after purchasing an additional 1,072,298 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Alector by 73.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock valued at $419,000 after purchasing an additional 38,947 shares in the last quarter. Creative Planning boosted its stake in shares of Alector by 54.2% in the 3rd quarter. Creative Planning now owns 19,117 shares of the company’s stock valued at $89,000 after purchasing an additional 6,723 shares in the last quarter. Barclays PLC boosted its stake in shares of Alector by 132.4% in the 3rd quarter. Barclays PLC now owns 176,800 shares of the company’s stock valued at $824,000 after purchasing an additional 100,731 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Alector by 24.2% in the 3rd quarter. Jane Street Group LLC now owns 154,942 shares of the company’s stock valued at $722,000 after purchasing an additional 30,180 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Stock Up 1.8 %

ALEC opened at $1.70 on Friday. The company has a market capitalization of $166.48 million, a price-to-earnings ratio of -1.00 and a beta of 0.61. The firm has a 50-day moving average price of $1.82 and a 200-day moving average price of $3.74. Alector has a twelve month low of $1.55 and a twelve month high of $7.58.

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.