Alector’s (ALEC) “Overweight” Rating Reiterated at Cantor Fitzgerald

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

Other equities analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Alector in a research note on Thursday, November 7th. Morgan Stanley downgraded Alector from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $10.00 to $3.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, Alector has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Alector Price Performance

ALEC opened at $2.55 on Tuesday. The business has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $5.00. The company has a market capitalization of $249.24 million, a price-to-earnings ratio of -1.50 and a beta of 0.66. Alector has a 1-year low of $2.37 and a 1-year high of $8.90.

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

Insider Activity at Alector

In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 291,715 shares in the company, valued at approximately $1,423,569.20. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,722 shares of company stock valued at $232,883 in the last 90 days. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alector

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

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.