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

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

Several other equities research analysts have also recently issued reports on ALEC. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Alector in a report on Thursday, November 7th. Morgan Stanley cut Alector from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $10.00 to $3.00 in a report on Tuesday. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.40.

Alector Stock Performance

Shares of Alector stock opened at $2.59 on Tuesday. The company has a 50-day simple moving average of $4.62 and a two-hundred day simple moving average of $4.99. The stock has a market capitalization of $253.64 million, a PE ratio of -1.52 and a beta of 0.66. Alector has a 52-week low of $2.37 and a 52-week high of $8.90.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The firm had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. As a group, equities research analysts forecast that Alector will post -1.86 EPS for the current fiscal year.

Insider Buying and Selling at Alector

In related news, CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the transaction, the chief financial officer now owns 130,740 shares in the company, valued at approximately $638,011.20. The trade was a 5.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the completion of the transaction, the insider now owns 291,715 shares in the company, valued at $1,423,569.20. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,722 shares of company stock valued at $232,883. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of hedge funds and other institutional investors have recently modified their holdings of ALEC. FMR LLC increased its stake in Alector by 1.0% in the 3rd quarter. FMR LLC now owns 14,595,014 shares of the company’s stock worth $68,013,000 after acquiring an additional 137,794 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Alector by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after acquiring an additional 526,037 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Alector by 8.5% in the third 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% in the second 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Alector by 18.5% during the third 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 in 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.