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

Alector (NASDAQ:ALEC) had its price target reduced by research analysts at HC Wainwright from $35.00 to $7.00 in a report issued on Friday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 175.05% from the company’s current price. 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 research firms have also recently commented on ALEC. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Tuesday. Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $10.00 to $3.00 in a research report on Tuesday. Finally, BTIG Research decreased their price objective on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.40.

Alector Stock Down 1.0 %

ALEC stock opened at $2.55 on Friday. The stock has a market cap of $249.23 million, a price-to-earnings ratio of -1.50 and a beta of 0.66. Alector has a fifty-two week low of $2.37 and a fifty-two week high of $8.90. The business has a 50 day moving average price of $4.68 and a 200 day moving average price of $5.00.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. The business had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, sell-side analysts anticipate that Alector will post -1.86 EPS for the current year.

Insider Buying and Selling at Alector

In other news, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction 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 owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $35,609.36. Following the transaction, the chief financial officer now owns 130,740 shares in the company, valued at approximately $638,011.20. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,722 shares of company stock worth $232,883. 9.10% of the stock is currently owned by insiders.

Institutional Trading of Alector

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake 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 purchasing an additional 526,037 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Alector by 73.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company’s stock worth $419,000 after acquiring an additional 38,947 shares in the last quarter. Creative Planning boosted its stake in shares of Alector by 54.2% during the 3rd quarter. Creative Planning now owns 19,117 shares of the company’s stock worth $89,000 after acquiring an additional 6,723 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Alector by 32.8% in the 2nd quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock worth $2,681,000 after acquiring an additional 146,015 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Alector by 61.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after purchasing an additional 135,614 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

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.