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

Alector (NASDAQ:ALEC)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports.

Separately, HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. One 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’s stock. Based on data from MarketBeat.com, Alector has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Alector Stock Performance

Shares of NASDAQ ALEC traded down $0.11 during midday trading on Monday, reaching $6.38. 110,844 shares of the company’s stock were exchanged, compared to its average volume of 665,678. Alector has a 52-week low of $3.66 and a 52-week high of $9.06. The business’s fifty day moving average price is $5.02 and its two-hundred day moving average price is $5.68. The stock has a market capitalization of $614.97 million, a PE ratio of -4.62 and a beta of 0.73.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.10. The firm had revenue of $15.89 million during 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%. Analysts predict that Alector will post -1.93 earnings per share for the current fiscal year.

Insider Activity

In other Alector news, CFO Marc Grasso sold 6,920 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $33,216.00. Following the sale, the chief financial officer now owns 138,037 shares in the company, valued at approximately $662,577.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Marc Grasso sold 6,920 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 value of $33,216.00. Following the completion of the sale, the chief financial officer now directly owns 138,037 shares of the company’s stock, valued at approximately $662,577.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Romano sold 8,040 shares of Alector stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $38,592.00. Following the transaction, the insider now directly owns 188,273 shares in the company, valued at approximately $903,710.40. The disclosure for this sale can be found here. Insiders sold a total of 40,095 shares of company stock worth $192,456 over the last 90 days. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alector

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP acquired a new stake in shares of Alector in the second quarter worth about $29,000. Allspring Global Investments Holdings LLC bought a new position in shares of Alector in the first quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Alector by 352.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after buying an additional 7,584 shares during the period. Lazard Asset Management LLC acquired a new position in Alector in the 1st quarter valued at $59,000. Finally, E Fund Management Co. Ltd. bought a new position in Alector in the 4th quarter worth $81,000. Hedge funds and other 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.