By otakuyassine3@gmail.com 
Alector (NASDAQ:ALEC – Get Free Report) was downgraded by equities researchers at Mizuho from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. They presently have a $2.50 target price on the stock, down from their prior target price of $9.00. Mizuho’s price objective would indicate a potential upside of 26.26% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus cut Alector from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research report on Monday. BTIG Research decreased their price target on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Bank of America cut shares of Alector from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $9.00 to $1.00 in a research note on Wednesday, December 4th. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.75.
Check Out Our Latest Stock Report on ALEC
Alector Stock Performance
ALEC stock opened at $1.98 on Tuesday. Alector has a fifty-two week low of $1.85 and a fifty-two week high of $8.90. The stock has a fifty day moving average of $4.11 and a 200-day moving average of $4.76. The company has a market capitalization of $193.91 million, a price-to-earnings ratio of -1.16 and a beta of 0.51.
Alector (NASDAQ:ALEC – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. The firm had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Equities analysts predict that Alector will post -1.85 EPS for the current year.
Insider Transactions at Alector
In other news, CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares in the company, valued at approximately $6,317,826.48. The trade was a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $66,780.00. Following the completion of the sale, the insider now directly owns 565,215 shares of the company’s stock, valued at $1,424,341.80. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,161 shares of company stock valued at $239,806. Insiders own 9.10% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Alector during the 2nd quarter valued at $291,000. Bank of New York Mellon Corp boosted its holdings in shares of Alector by 21.5% during the second quarter. Bank of New York Mellon Corp now owns 279,938 shares of the company’s stock worth $1,271,000 after purchasing an additional 49,625 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Alector by 61.7% in the second quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock worth $1,613,000 after purchasing an additional 135,614 shares during the last quarter. Rhumbline Advisers increased its holdings in Alector by 20.1% during the 2nd quarter. Rhumbline Advisers now owns 109,924 shares of the company’s stock valued at $499,000 after purchasing an additional 18,398 shares during the period. Finally, Victory Capital Management Inc. raised its position in Alector by 21.0% during the 2nd quarter. Victory Capital Management Inc. now owns 156,234 shares of the company’s stock valued at $709,000 after purchasing an additional 27,094 shares during the last quarter. Hedge funds and other institutional investors 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.
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