Alector, Inc. (NASDAQ:ALEC) Receives $3.75 Consensus PT from Analysts

Alector, Inc. (NASDAQ:ALEC - Get Free Report) has received a consensus recommendation of "Hold" from the seven analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $3.75.

A number of research analysts have issued reports on ALEC shares. BTIG Research cut their price target on shares of Alector from $16.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Bank of America lowered shares of Alector from a "neutral" rating to an "underperform" rating and cut their price target for the company from $9.00 to $1.00 in a research note on Wednesday, December 4th. HC Wainwright cut their price target on shares of Alector from $35.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, November 29th. Stifel Nicolaus lowered shares of Alector from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research note on Monday, December 16th. Finally, Mizuho downgraded shares of Alector from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $9.00 to $2.50 in a report on Tuesday, December 17th.

Alector Price Performance

Alector stock traded up $0.03 during mid-day trading on Friday, reaching $1.64. 425,737 shares of the company traded hands, compared to its average volume of 630,501. Alector has a fifty-two week low of $1.55 and a fifty-two week high of $7.58. The company has a market capitalization of $160.61 million, a price-to-earnings ratio of -0.96 and a beta of 0.61. The firm's fifty day moving average is $1.84 and its two-hundred day moving average is $3.80.

Insider Activity

In related news, CEO Arnon Rosenthal sold 52,172 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the sale, the chief executive officer now directly owns 2,507,074 shares of the company's stock, valued at approximately $6,317,826.48. This represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Marc Grasso sold 16,489 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $41,552.28. Following the sale, the chief financial officer now directly owns 330,651 shares in the company, valued at $833,240.52. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,161 shares of company stock valued at $239,806 in the last ninety days. Insiders own 9.10% of the company's stock.

Institutional Trading of Alector

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Alector by 1.0% during the third quarter. FMR LLC now owns 14,595,014 shares of the company's stock valued at $68,013,000 after purchasing an additional 137,794 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alector by 64.7% during the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company's stock valued at $12,716,000 after purchasing an additional 1,072,298 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Alector by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,914,250 shares of the company's stock valued at $3,619,000 after purchasing an additional 10,308 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings 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. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Alector by 14.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 760,606 shares of the company's stock valued at $3,544,000 after purchasing an additional 94,145 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

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.