Alector (NASDAQ:ALEC) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Alector (NASDAQ:ALEC) in a report issued on Monday morning, Benzinga reports.

Separately, HC Wainwright restated a buy rating and set a $35.00 price target on shares of Alector in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $14.00.

Alector Stock Performance

Shares of NASDAQ:ALEC opened at $5.72 on Monday. The stock has a market capitalization of $551.35 million, a price-to-earnings ratio of -4.14 and a beta of 0.73. Alector has a 1-year low of $3.66 and a 1-year high of $9.06. The company’s fifty day moving average is $5.08 and its two-hundred day moving average is $5.66.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The company had revenue of $15.89 million for 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%. Sell-side analysts expect that Alector will post -1.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alector news, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction 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 owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alector news, CEO Arnon Rosenthal sold 25,135 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $120,648.00. Following the completion of the sale, the chief executive officer now directly owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Marc Grasso sold 6,920 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 $33,216.00. Following the sale, the chief financial officer now directly owns 138,037 shares in the company, valued at $662,577.60. The disclosure for this sale can be found here. Insiders have sold 40,095 shares of company stock valued at $192,456 over the last three months. 9.10% of the stock is currently owned by insiders.

Institutional Trading of Alector

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALEC. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Alector in the first quarter valued at $760,000. Acadian Asset Management LLC increased its position in Alector by 211.6% in the 1st quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after acquiring an additional 301,936 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Alector by 352.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after acquiring an additional 7,584 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Alector during the fourth quarter worth approximately $133,000. Finally, Swiss National Bank grew its stake in shares of Alector by 6.5% during the first quarter. Swiss National Bank now owns 131,900 shares of the company’s stock valued at $794,000 after purchasing an additional 8,000 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

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.