Alector’s (ALEC) Overweight Rating Reiterated at Cantor Fitzgerald

Alector (NASDAQ:ALEC)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $10.00 to $3.00 in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Alector in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Alector Price Performance

NASDAQ:ALEC traded down $1.36 during mid-day trading on Tuesday, hitting $2.60. The company’s stock had a trading volume of 4,724,119 shares, compared to its average volume of 653,112. The business’s fifty day moving average is $4.88 and its two-hundred day moving average is $5.06. The stock has a market cap of $254.62 million, a price-to-earnings ratio of -1.53 and a beta of 0.66. Alector has a 1 year low of $2.37 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10. The company had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. Analysts anticipate that Alector will post -1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alector news, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 26,499 shares of the business’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 transaction 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 $9,509,880.48. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,722 shares of company stock worth $232,883. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of Alector by 9.9% during the first quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock worth $472,000 after purchasing an additional 7,066 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Alector by 24.1% in the 1st quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after acquiring an additional 3,827 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alector by 12.0% in the first quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after buying an additional 526,037 shares during the last quarter. American International Group Inc. boosted its position in shares of Alector by 13.0% during the 1st quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after purchasing an additional 4,105 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Alector during the first quarter worth about $59,000. Institutional investors and hedge funds 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.