Alector, Inc. (NASDAQ:ALEC) Receives Consensus Rating of "Hold" from Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC - Get Free Report) have earned an average recommendation of "Hold" from the seven research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $3.50.

Several brokerages have issued reports on ALEC. Mizuho lowered Alector from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. Morgan Stanley restated an "underweight" rating and set a $1.50 price target (down from $3.00) on shares of Alector in a research report on Friday, March 7th. Stifel Nicolaus downgraded Alector from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a report on Monday, December 16th. Finally, HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Alector in a report on Thursday, February 27th.

Alector Stock Down 6.4 %

NASDAQ:ALEC traded down $0.07 during trading hours on Monday, hitting $1.02. 821,005 shares of the company's stock traded hands, compared to its average volume of 777,928. The firm has a market cap of $101.07 million, a P/E ratio of -0.60 and a beta of 0.73. The business's fifty day simple moving average is $1.53 and its two-hundred day simple moving average is $2.83. Alector has a 52 week low of $1.02 and a 52 week high of $6.78.

Alector (NASDAQ:ALEC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.59. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The company had revenue of $54.24 million during the quarter, compared to analyst estimates of $20.41 million. On average, analysts expect that Alector will post -1.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALEC. Squarepoint Ops LLC bought a new position in shares of Alector during the fourth quarter valued at approximately $25,000. Tema Etfs LLC purchased a new stake in shares of Alector in the 4th quarter worth about $27,000. Tower Research Capital LLC TRC boosted its stake in shares of Alector by 71.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock valued at $28,000 after purchasing an additional 6,096 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Alector during the third quarter valued at about $29,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alector in the third quarter worth about $40,000. 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.