Alector (NASDAQ:ALEC) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Alector (NASDAQ:ALECFree Report) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $35.00 price target on the stock.

Separately, Cantor Fitzgerald reiterated an overweight rating on shares of Alector in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Alector presently has an average rating of Moderate Buy and an average target price of $14.00.

Check Out Our Latest Research Report on Alector

Alector Stock Up 9.1 %

Shares of Alector stock opened at $4.57 on Thursday. The firm has a market cap of $440.50 million, a PE ratio of -3.31 and a beta of 0.77. Alector has a 12-month low of $3.66 and a 12-month high of $9.06. The company’s fifty day simple moving average is $5.03 and its two-hundred day simple moving average is $6.10.

Alector (NASDAQ:ALECGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.10. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. The business had revenue of $15.89 million for the quarter, compared to analysts’ expectations of $14.63 million. As a group, sell-side analysts expect that Alector will post -1.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Marc Grasso sold 6,920 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $33,216.00. Following the sale, the chief financial officer now owns 138,037 shares of the company’s stock, valued at approximately $662,577.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Arnon Rosenthal sold 25,135 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $120,648.00. Following the transaction, the chief executive officer now directly owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Marc Grasso sold 6,920 shares of Alector stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $33,216.00. Following the transaction, the chief financial officer now directly owns 138,037 shares in the company, valued at $662,577.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,095 shares of company stock valued at $192,456. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Alector during the first quarter worth $40,000. Lazard Asset Management LLC purchased a new position in Alector during the 1st quarter worth $59,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Alector by 352.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock valued at $78,000 after buying an additional 7,584 shares during the period. E Fund Management Co. Ltd. purchased a new position in Alector during the 4th quarter valued at about $81,000. Finally, Jasper Ridge Partners L.P. bought a new position in Alector in the third quarter worth approximately $95,000. 85.83% of the stock is owned by hedge funds and other institutional investors.

Alector Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Alector (NASDAQ:ALEC)

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