Alector, Inc. (NASDAQ:ALEC) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Alector carries a “Hold” consensus rating among six analysts, with two sell, one hold, and three buy recommendations. The average 12-month price target is $4.62.
• Alector reported a quarterly loss of $0.21 per share, beating estimates by $0.02, while revenue of $3.32 million exceeded analysts’ $1.71 million forecast. Analysts expect a full-year loss of approximately $0.47 per share.
• The stock opened at $1.83, compared with a 52-week range of $1.09 to $2.76. Company insiders sold 111,303 shares worth about $295,633 over the past 90 days, while institutional investors own 85.83% of outstanding shares.

Alector, Inc. (NASDAQ:ALEC - Get Free Report) has earned an average recommendation of "Hold" from the six brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $4.62.

Several equities analysts recently issued reports on ALEC shares. Morgan Stanley boosted their price target on shares of Alector from $2.00 to $3.00 and gave the company an "underweight" rating in a research report on Tuesday, October 6th. UBS Group restated a "neutral" rating and issued a $1.50 price objective on shares of Alector in a report on Tuesday, October 6th. HC Wainwright lifted their price objective on Alector from $5.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, October 14th. Finally, Weiss Ratings raised Alector from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 13th.

Alector Stock Performance

Shares of ALEC opened at $1.83 on Tuesday. Alector has a fifty-two week low of $1.09 and a fifty-two week high of $2.76. The firm has a market cap of $204.34 million, a price-to-earnings ratio of -1.66 and a beta of 0.62. The firm has a 50 day moving average price of $2.09 and a 200-day moving average price of $2.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26.

Alector (NASDAQ:ALEC - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.02. The company had revenue of $3.32 million for the quarter, compared to analyst estimates of $1.71 million. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. As a group, equities research analysts forecast that Alector will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 72,606 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $193,131.96. Following the completion of the transaction, the chief executive officer owned 2,294,600 shares of the company's stock, valued at approximately $6,103,636. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Neil Berkley sold 29,251 shares of Alector stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $77,807.66. Following the transaction, the chief financial officer owned 350,649 shares of the company's stock, valued at $932,726.34. The trade was a 7.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,303 shares of company stock valued at $295,633 in the last ninety days. Insiders own 8.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALEC. The Manufacturers Life Insurance Company purchased a new position in Alector during the second quarter valued at $39,000. Hsbc Holdings PLC purchased a new stake in shares of Alector in the second quarter worth $98,000. Sei Investments Co. grew its stake in shares of Alector by 218.9% in the first quarter. Sei Investments Co. now owns 53,846 shares of the company's stock worth $116,000 after acquiring an additional 36,962 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Alector in the second quarter worth $122,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Alector during the second quarter valued at $241,000. Institutional investors own 85.83% of the company's stock.

Alector Company Profile

Alector, Inc NASDAQ: ALEC is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company's research platform, known as immuno-neurology, is designed to use the body's immune system to protect or restore the brain's ability to maintain healthy neural connections.

Alector's investigational pipeline has included antibody-based treatments for conditions such as frontotemporal dementia and Alzheimer's disease. Its programs have targeted biological pathways associated with neurodegeneration, including progranulin and TREM2.

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