HC Wainwright Cuts Alector (NASDAQ:ALEC) Price Target to $7.00

Alector (NASDAQ:ALEC - Free Report) had its price target lowered by HC Wainwright from $35.00 to $7.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Alector's Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.42) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.66) EPS, FY2026 earnings at ($1.60) EPS, FY2027 earnings at ($0.76) EPS and FY2028 earnings at ($0.39) EPS.

A number of other analysts have also recently weighed in on ALEC. Morgan Stanley cut shares of Alector from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $10.00 to $3.00 in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alector in a research report on Tuesday. Finally, BTIG Research lowered their price objective on shares of Alector from $16.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.40.

Alector Stock Performance

Shares of ALEC traded up $0.04 during midday trading on Friday, hitting $2.59. The company had a trading volume of 2,735,959 shares, compared to its average volume of 687,956. Alector has a 1 year low of $2.37 and a 1 year high of $8.90. The firm has a market capitalization of $253.64 million, a P/E ratio of -1.52 and a beta of 0.66. The company's 50-day simple moving average is $4.62 and its 200-day simple moving average is $4.98.

Alector (NASDAQ:ALEC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The company had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Equities analysts predict that Alector will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Alector

In related news, insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $67,958.88. Following the completion of the transaction, the insider now directly owns 291,715 shares in the company, valued at $1,423,569.20. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,722 shares of company stock valued at $232,883. Insiders own 9.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Alector by 132.4% in the 3rd 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 holdings in shares of Alector by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company's stock worth $8,874,000 after purchasing an additional 148,357 shares during the last quarter. Jane Street Group LLC grew its position in shares of Alector by 24.2% in the third quarter. Jane Street Group LLC now owns 154,942 shares of the company's stock valued at $722,000 after purchasing an additional 30,180 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Alector in the third quarter valued at $639,000. Finally, Sphera Funds Management LTD. increased its stake in Alector by 1.6% in the third quarter. Sphera Funds Management LTD. now owns 620,000 shares of the company's stock valued at $2,889,000 after purchasing an additional 10,000 shares during the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

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.