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

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

Separately, HC Wainwright reaffirmed a buy rating and set a $35.00 price objective on shares of Alector in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $14.67.

Alector Stock Up 0.7 %

Alector stock opened at $5.81 on Monday. Alector has a 12 month low of $3.66 and a 12 month high of $8.90. The stock has a market cap of $560.00 million, a P/E ratio of -4.18 and a beta of 0.68. The company’s fifty day simple moving average is $5.36 and its 200-day simple moving average is $5.42.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million for the quarter, compared to the consensus estimate of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, equities research analysts expect that Alector will post -1.92 earnings per share for the current fiscal year.

Insider Activity

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the sale, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares in the company, valued at $9,509,880.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,222 shares of company stock valued at $286,013. Insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

Hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC acquired a new position in shares of Alector during the second quarter worth approximately $198,000. Susquehanna Fundamental Investments LLC increased its position in Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after acquiring an additional 3,500 shares during the period. The Manufacturers Life Insurance Company raised its stake in Alector by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,819 shares of the company’s stock valued at $567,000 after purchasing an additional 6,825 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its holdings 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 purchasing an additional 75,481 shares during the period. Finally, Caxton Associates LP boosted its holdings in Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after purchasing an additional 5,933 shares during the period. 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.