Alector (NASDAQ:ALEC) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Alector (NASDAQ:ALECFree Report) in a report released on Thursday morning, Benzinga reports. They currently have a $35.00 price target on the stock.

Separately, Cantor Fitzgerald reissued an overweight rating on shares of Alector in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $14.00.

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Alector Stock Up 9.1 %

Shares of Alector stock opened at $4.57 on Thursday. Alector has a 12-month low of $3.66 and a 12-month high of $9.06. The firm has a market capitalization of $440.50 million, a PE ratio of -3.31 and a beta of 0.77. The stock’s fifty day moving average is $5.03 and its 200-day moving average is $6.10.

Alector (NASDAQ:ALECGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The company had revenue of $15.89 million during the quarter, compared to analyst estimates of $14.63 million. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. Analysts expect that Alector will post -1.93 EPS for the current year.

Insider Buying and Selling at Alector

In other news, CFO Marc Grasso sold 6,920 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $33,216.00. Following the completion of the transaction, the chief financial officer now directly owns 138,037 shares in the company, valued at $662,577.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Arnon Rosenthal sold 25,135 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $120,648.00. Following the sale, the chief executive officer now owns 1,975,245 shares of the company’s stock, valued at $9,481,176. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Marc Grasso sold 6,920 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $33,216.00. Following the completion of the transaction, the chief financial officer now directly owns 138,037 shares of the company’s stock, valued at $662,577.60. The disclosure for this sale can be found here. Insiders sold 40,095 shares of company stock worth $192,456 over the last ninety days. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Alector by 58.3% in the third quarter. FMR LLC now owns 12,172,045 shares of the company’s stock valued at $78,875,000 after buying an additional 4,481,420 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Alector by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after purchasing an additional 526,037 shares during the period. Euclidean Capital LLC increased its position in shares of Alector by 33.3% during the third quarter. Euclidean Capital LLC now owns 1,307,858 shares of the company’s stock worth $8,475,000 after acquiring an additional 326,964 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Alector by 211.6% during the 1st quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock worth $2,675,000 after purchasing an additional 301,936 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Alector during the fourth quarter worth about $1,920,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Company Profile

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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.

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Analyst Recommendations for Alector (NASDAQ:ALEC)

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