Alector (NASDAQ:ALEC) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Alector (NASDAQ:ALEC) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $35.00 target price on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.75.

Alector Price Performance

ALEC traded up $0.10 during trading on Thursday, reaching $5.74. The company’s stock had a trading volume of 491,788 shares, compared to its average volume of 621,170. The company’s fifty day moving average price is $5.06 and its 200-day moving average price is $5.12. Alector has a 52-week low of $3.66 and a 52-week high of $8.90.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share 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 period in the previous year, the business earned $0.02 earnings per share. Research analysts anticipate that Alector will post -1.92 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at $9,509,880.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’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 $67,958.88. Following the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock worth $286,013 in the last quarter. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

Large investors have recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new stake in shares of Alector in the second quarter valued at $29,000. Allspring Global Investments Holdings LLC purchased a new position in Alector in the 1st quarter valued at about $40,000. nVerses Capital LLC acquired a new stake in shares of Alector during the 3rd quarter worth about $51,000. Lazard Asset Management LLC purchased a new stake in shares of Alector during the first quarter worth about $59,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Alector by 65.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock valued at $87,000 after buying an additional 7,395 shares during the last quarter. Institutional investors and hedge funds 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.