BTIG Research Issues Pessimistic Forecast for Alector (NASDAQ:ALEC) Stock Price

Alector (NASDAQ:ALEC) had its target price reduced by stock analysts at BTIG Research from $16.00 to $5.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 96.46% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley cut Alector from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $10.00 to $3.00 in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Alector in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Alector has an average rating of “Moderate Buy” and an average price target of $14.00.

Alector Stock Down 1.0 %

NASDAQ:ALEC opened at $2.55 on Tuesday. The stock’s fifty day moving average price is $4.81 and its two-hundred day moving average price is $5.04. Alector has a 52-week low of $2.37 and a 52-week high of $8.90.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. Analysts forecast that Alector will post -1.87 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 value of $67,958.88. Following the completion of the sale, the insider now directly owns 291,715 shares in the company, valued at approximately $1,423,569.20. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnon Rosenthal sold 26,499 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 $129,315.12. Following the completion of the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,722 shares of company stock worth $232,883. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in Alector by 4.1% in the second quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock valued at $311,000 after acquiring an additional 2,709 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after buying an additional 3,500 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Alector by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock worth $513,000 after buying an additional 3,790 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after buying an additional 3,827 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of Alector by 13.0% during the first quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after buying an additional 4,105 shares during the last quarter. 85.83% of the stock is owned by 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.