Alector, Inc. (NASDAQ:ALEC) Receives $3.25 Consensus PT from Brokerages

Alector, Inc. (NASDAQ:ALEC) has been given an average recommendation of “Hold” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.25.

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley reiterated an “underweight” rating on shares of Alector in a research report on Thursday, January 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a research report on Wednesday, January 21st. Finally, BTIG Research upgraded shares of Alector from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $2.10 on Thursday. The firm has a market capitalization of $229.22 million, a PE ratio of -1.96 and a beta of 0.64. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.17. Alector has a 1-year low of $0.87 and a 1-year high of $3.40. The business’s 50 day moving average is $1.77 and its 200-day moving average is $2.03.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 104,347 shares of Alector stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.12, for a total transaction of $116,868.64. Following the completion of the transaction, the chief executive officer directly owned 2,420,040 shares of the company’s stock, valued at approximately $2,710,444.80. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Kenkare-Mitra sold 41,687 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.12, for a total transaction of $46,689.44. Following the completion of the sale, the insider owned 501,652 shares in the company, valued at $561,850.24. This represents a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 196,104 shares of company stock worth $220,064 in the last 90 days. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alector

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Alector during the fourth quarter worth about $34,000. Invesco Ltd. boosted its holdings in shares of Alector by 45.3% in the 4th quarter. Invesco Ltd. now owns 279,468 shares of the company’s stock worth $436,000 after acquiring an additional 87,157 shares in the last quarter. Mackenzie Financial Corp grew its position in Alector by 132.7% during the 4th quarter. Mackenzie Financial Corp now owns 660,168 shares of the company’s stock worth $1,001,000 after acquiring an additional 376,456 shares during the last quarter. XTX Topco Ltd increased its holdings in Alector by 501.8% during the 4th quarter. XTX Topco Ltd now owns 592,839 shares of the company’s stock valued at $925,000 after purchasing an additional 494,326 shares in the last quarter. Finally, Ikarian Capital LLC increased its holdings in Alector by 174.0% during the 4th quarter. Ikarian Capital LLC now owns 2,082,606 shares of the company’s stock valued at $3,249,000 after purchasing an additional 1,322,606 shares in the last quarter. 85.83% of the stock is owned by institutional investors.

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.