Alector (NASDAQ:ALEC) Given "Buy" Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Alector (NASDAQ:ALEC - Free Report) in a research note released on Thursday morning,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright also issued estimates for Alector's FY2029 earnings at ($0.72) EPS.

A number of other equities research analysts also recently weighed in on ALEC. BTIG Research lowered their price target on Alector from $16.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Bank of America lowered shares of Alector from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $9.00 to $1.00 in a research note on Wednesday, December 4th. Stifel Nicolaus downgraded shares of Alector from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research report on Monday, December 16th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Alector in a research report on Tuesday, November 26th. Finally, Mizuho cut shares of 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 report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $3.75.

Alector Trading Down 14.0 %

NASDAQ ALEC traded down $0.23 during trading hours on Thursday, reaching $1.41. 2,372,363 shares of the company traded hands, compared to its average volume of 700,468. The company has a 50 day moving average of $1.77 and a two-hundred day moving average of $3.49. The stock has a market capitalization of $139.71 million, a PE ratio of -0.83 and a beta of 0.61. Alector has a 12 month low of $1.38 and a 12 month high of $7.45.

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

Institutional Trading of Alector

A number of large investors have recently modified their holdings of ALEC. Squarepoint Ops LLC bought a new position in Alector in the 4th quarter worth about $25,000. Tema Etfs LLC acquired a new position in shares of Alector during the fourth quarter worth approximately $27,000. Tower Research Capital LLC TRC grew its holdings in Alector by 71.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock worth $28,000 after buying an additional 6,096 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Alector in the 3rd quarter valued at approximately $29,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Alector during the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 85.83% of the company's stock.

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.