Alector, Inc. (NASDAQ:ALEC) Receives $3.75 Average Price Target from Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC - Get Free Report) have been assigned an average rating of "Hold" from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $3.75.

ALEC has been the topic of a number of analyst reports. BTIG Research reduced their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alector in a report on Tuesday, November 26th. HC Wainwright dropped their price objective on Alector from $35.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, November 29th. Morgan Stanley cut shares of Alector from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $10.00 to $3.00 in a research report on Tuesday, November 26th. Finally, Bank of America lowered shares of Alector from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $9.00 to $1.00 in a research report on Wednesday, December 4th.

Insiders Place Their Bets

In related news, insider Sara Kenkare-Mitra sold 26,500 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the sale, the insider now owns 565,215 shares in the company, valued at approximately $1,424,341.80. This trade represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of 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 trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,161 shares of company stock valued at $239,806. Corporate insiders own 9.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Alector by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 165,713 shares of the company's stock valued at $295,000 after purchasing an additional 7,971 shares during the last quarter. JPMorgan Chase & Co. increased 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 buying an additional 1,072,298 shares during the last quarter. Barclays PLC raised its position in Alector by 132.4% in the third quarter. Barclays PLC now owns 176,800 shares of the company's stock worth $824,000 after acquiring an additional 100,731 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alector by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company's stock worth $8,874,000 after acquiring an additional 148,357 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Alector by 24.2% during the 3rd quarter. Jane Street Group LLC now owns 154,942 shares of the company's stock valued at $722,000 after acquiring an additional 30,180 shares during the period. Institutional investors own 85.83% of the company's stock.

Alector Stock Performance

Shares of ALEC stock traded up $0.05 during midday trading on Wednesday, hitting $1.68. 904,354 shares of the company were exchanged, compared to its average volume of 875,916. The firm has a market capitalization of $164.53 million, a P/E ratio of -0.99 and a beta of 0.57. The firm's 50 day moving average price is $2.77 and its two-hundred day moving average price is $4.35. Alector has a 52 week low of $1.61 and a 52 week high of $7.78.

Alector (NASDAQ:ALEC - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.10. The firm had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Analysts expect that Alector will post -1.85 EPS for the current year.

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.