Alector (NASDAQ:ALEC) Stock Rating Lowered by Mizuho

Mizuho downgraded shares of Alector (NASDAQ:ALEC - Free Report) from an outperform rating to a neutral rating in a research report released on Tuesday,Briefing.com Automated Import reports. Mizuho currently has $2.50 price target on the stock, down from their prior price target of $9.00.

A number of other analysts also recently issued reports on the stock. Bank of America downgraded shares of Alector from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. HC Wainwright reduced their price objective on Alector from $35.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday, November 29th. 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 note on Monday. BTIG Research cut their price objective on shares of Alector from $16.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Finally, Morgan Stanley cut shares of Alector from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $10.00 to $3.00 in a research report on Tuesday, November 26th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $3.75.

Alector Stock Performance

Alector stock traded down $0.09 during midday trading on Tuesday, reaching $1.89. 1,087,220 shares of the stock were exchanged, compared to its average volume of 742,736. The company's fifty day moving average is $4.05 and its 200-day moving average is $4.74. Alector has a 52 week low of $1.85 and a 52 week high of $8.90. The firm has a market cap of $185.09 million, a PE ratio of -1.14 and a beta of 0.51.

Alector (NASDAQ:ALEC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The company had revenue of $15.34 million during the quarter, compared to analyst estimates of $16.33 million. On average, sell-side analysts anticipate that Alector will post -1.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sara Kenkare-Mitra sold 26,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the transaction, the insider now directly owns 565,215 shares of the company's stock, valued at $1,424,341.80. This represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the transaction, 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 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 over the last ninety days. 9.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Alector

Several institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. grew its position in shares of Alector by 4.1% during the second quarter. Federated Hermes Inc. now owns 68,538 shares of the company's stock worth $311,000 after purchasing an additional 2,709 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company's stock worth $589,000 after purchasing an additional 3,500 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alector by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company's stock valued at $513,000 after purchasing an additional 3,790 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Alector by 7.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 63,186 shares of the company's stock worth $287,000 after buying an additional 4,430 shares in the last quarter. Finally, Caxton Associates LP raised its holdings in shares of Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company's stock valued at $92,000 after purchasing an additional 5,933 shares in the last quarter. 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.