Cantor Fitzgerald Reiterates “Overweight” Rating for Alector (NASDAQ:ALEC)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Alector (NASDAQ:ALEC) in a research report sent to investors on Tuesday,Benzinga reports.

A number of other research firms also recently issued reports on ALEC. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday, November 7th. Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $10.00 to $3.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.40.

Alector Trading Up 1.6 %

ALEC opened at $2.59 on Tuesday. Alector has a 1-year low of $2.37 and a 1-year high of $8.90. The company has a market cap of $253.64 million, a price-to-earnings ratio of -1.52 and a beta of 0.66. The company’s fifty day moving average price is $4.62 and its two-hundred day moving average price is $4.99.

Alector (NASDAQ:ALEC) last posted its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, equities analysts forecast that Alector will post -1.86 earnings per share for the current fiscal year.

Insider Transactions at Alector

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the sale, the insider now owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,722 shares of company stock valued at $232,883. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alector

A number of large investors have recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new position in Alector during the 2nd quarter valued at $29,000. Point72 DIFC Ltd purchased a new stake in Alector in the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alector in the 3rd quarter worth about $40,000. nVerses Capital LLC bought a new position in shares of Alector in the 3rd quarter worth about $51,000. Finally, Lazard Asset Management LLC purchased a new position in Alector during the 1st quarter valued at about $59,000. 85.83% of the stock is owned by hedge funds and other institutional investors.

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.