Alector, Inc. (NASDAQ:ALEC) Receives Average Recommendation of “Hold” from Analysts

Alector, Inc. (NASDAQ:ALEC) has been assigned a consensus rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $3.6250.

A number of research analysts have commented on ALEC shares. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. BTIG Research upgraded shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Tuesday, March 10th. Finally, Morgan Stanley restated an “underweight” rating and set a $2.00 price target on shares of Alector in a research note on Monday, May 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Alector by 1.8% in the second quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock valued at $481,000 after acquiring an additional 5,927 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Alector by 3.4% in the third quarter. Mackenzie Financial Corp now owns 283,712 shares of the company’s stock valued at $840,000 after acquiring an additional 9,270 shares during the last quarter. Lexington Partners L.P. bought a new position in shares of Alector in the third quarter valued at approximately $30,000. Hershey Trust Co. raised its stake in shares of Alector by 100.0% in the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock valued at $32,000 after acquiring an additional 10,286 shares during the last quarter. Finally, Pinegrove Venture Partners LLC bought a new position in shares of Alector in the third quarter valued at approximately $30,000. Institutional investors own 85.83% of the company’s stock.

Alector Stock Down 13.9%

Shares of ALEC opened at $2.10 on Tuesday. The stock has a market cap of $233.16 million, a price-to-earnings ratio of -1.76 and a beta of 0.64. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.30. Alector has a 12 month low of $1.01 and a 12 month high of $3.40. The company has a 50-day moving average price of $2.31 and a two-hundred day moving average price of $1.87.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. The firm had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $9.67 million. Alector had a negative net margin of 680.83% and a negative return on equity of 235.79%. Equities analysts predict that Alector will post -0.93 EPS for the current fiscal year.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.