Alector (NASDAQ:ALEC) Price Target Cut to $35.00 by Analysts at HC Wainwright

Alector (NASDAQ:ALEC) had its target price reduced by equities research analysts at HC Wainwright from $41.00 to $35.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Alector has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Alector Price Performance

Shares of Alector stock traded up $0.01 during trading on Thursday, reaching $5.20. 592,056 shares of the stock traded hands, compared to its average volume of 651,859. The company has a market capitalization of $501.23 million, a price-to-earnings ratio of -3.35 and a beta of 0.82. Alector has a 52-week low of $3.66 and a 52-week high of $9.06. The business has a fifty day simple moving average of $5.86 and a two-hundred day simple moving average of $6.13.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.31. Alector had a negative net margin of 134.34% and a negative return on equity of 77.15%. The business had revenue of $15.19 million during the quarter, compared to the consensus estimate of $8.35 million. On average, research analysts predict that Alector will post -1.89 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Marc Grasso sold 5,716 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $39,554.72. Following the completion of the sale, the chief financial officer now directly owns 144,957 shares in the company, valued at $1,003,102.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alector news, CFO Marc Grasso sold 5,716 shares of Alector stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $39,554.72. Following the sale, the chief financial officer now owns 144,957 shares of the company’s stock, valued at approximately $1,003,102.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Romano sold 6,001 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $41,526.92. Following the completion of the sale, the insider now directly owns 196,313 shares in the company, valued at approximately $1,358,485.96. The disclosure for this sale can be found here. In the last three months, insiders sold 30,554 shares of company stock worth $211,434. Company insiders own 14.00% of the company’s stock.

Institutional Trading of Alector

Hedge funds have recently made changes to their positions in the stock. FMR LLC grew its stake in shares of Alector by 58.3% in the third quarter. FMR LLC now owns 12,172,045 shares of the company’s stock worth $78,875,000 after acquiring an additional 4,481,420 shares during the last quarter. Euclidean Capital LLC boosted its position in shares of Alector by 33.3% during the third quarter. Euclidean Capital LLC now owns 1,307,858 shares of the company’s stock worth $8,475,000 after purchasing an additional 326,964 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Alector in the 4th quarter valued at $1,920,000. Jacobs Levy Equity Management Inc. lifted its position in Alector by 33.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 778,077 shares of the company’s stock worth $5,042,000 after buying an additional 195,411 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Alector during the 3rd quarter worth about $1,103,000. 85.83% of the stock is 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.