Alector’s (ALEC) Buy Rating Reaffirmed at HC Wainwright

Alector (NASDAQ:ALEC)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $35.00 price objective on the stock.

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Alector Stock Performance

ALEC opened at $4.26 on Thursday. The stock has a fifty day moving average of $5.10 and a 200-day moving average of $6.12. The company has a market capitalization of $410.62 million, a P/E ratio of -3.09 and a beta of 0.77. Alector has a fifty-two week low of $3.66 and a fifty-two week high of $9.06.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.10. The business had revenue of $15.89 million for the quarter, compared to analyst estimates of $14.63 million. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. On average, equities research analysts predict that Alector will post -1.93 earnings per share for the current fiscal year.

Insider Transactions at Alector

In other Alector news, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the transaction, the chief executive officer now directly owns 1,975,245 shares in the company, valued at $9,481,176. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alector news, insider Gary Romano sold 8,040 shares of Alector stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $38,592.00. Following the transaction, the insider now owns 188,273 shares in the company, valued at $903,710.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 25,135 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the transaction, the chief executive officer now directly owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,095 shares of company stock valued at $192,456. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co lifted its stake in Alector by 12.3% in the 4th quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock valued at $113,000 after purchasing an additional 1,541 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alector by 3.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,239 shares of the company’s stock valued at $489,000 after acquiring an additional 2,120 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Alector by 24.1% during the 1st quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after acquiring an additional 3,827 shares in the last quarter. American International Group Inc. grew its position in Alector by 13.0% during the 1st quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after acquiring an additional 4,105 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in Alector by 2.3% during the 4th quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock worth $1,523,000 after acquiring an additional 4,287 shares during the last quarter. 85.83% of the stock is owned by institutional investors.

About Alector

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.