Alector (NASDAQ:ALEC) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Alector (NASDAQ:ALEC) in a research note published on Tuesday morning,Benzinga reports.

A number of other analysts also recently issued reports on ALEC. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday, November 7th. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $10.00 to $3.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Alector Price Performance

NASDAQ ALEC opened at $2.55 on Tuesday. The stock has a market capitalization of $249.24 million, a P/E ratio of -1.50 and a beta of 0.66. The business has a 50 day simple moving average of $4.68 and a 200 day simple moving average of $5.00. Alector has a one year low of $2.37 and a one year high of $8.90.

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

Insider Activity at Alector

In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marc Grasso sold 7,297 shares of the business’s 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 $35,609.36. Following the transaction, the chief financial officer now owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,722 shares of company stock valued at $232,883. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Alector

A number of hedge funds have recently made changes to their positions in ALEC. FMR LLC boosted its holdings in Alector by 1.0% during the 3rd quarter. FMR LLC now owns 14,595,014 shares of the company’s stock valued at $68,013,000 after acquiring an additional 137,794 shares during the period. Vanguard Group Inc. increased its stake in Alector by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock worth $29,574,000 after buying an additional 526,037 shares during the period. Geode Capital Management LLC lifted its holdings in Alector by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock valued at $8,874,000 after buying an additional 148,357 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in Alector by 7.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock valued at $5,213,000 after buying an additional 75,481 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Alector by 18.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock worth $4,742,000 after purchasing an additional 159,111 shares in the last quarter. 85.83% of the stock is currently 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.