Alector (NASDAQ:ALEC) Given Overweight Rating at Cantor Fitzgerald

Alector (NASDAQ:ALEC)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a report released on Tuesday,Benzinga reports.

Several other brokerages have also weighed in on ALEC. HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday, November 7th. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $10.00 to $3.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Alector presently has an average rating of “Moderate Buy” and a consensus price target of $16.25.

Alector Trading Down 34.3 %

Shares of ALEC stock traded down $1.36 during trading hours on Tuesday, hitting $2.60. The company’s stock had a trading volume of 4,724,119 shares, compared to its average volume of 653,112. Alector has a twelve month low of $2.37 and a twelve month high of $8.90. The business has a fifty day moving average of $4.88 and a 200-day moving average of $5.06. The stock has a market cap of $254.62 million, a price-to-earnings ratio of -1.53 and a beta of 0.66.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS 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 analysts’ expectations of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. On average, equities analysts expect that Alector will post -1.87 EPS for the current fiscal year.

Insider Activity

In other news, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The trade was a 1.34 % 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 hyperlink. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the completion of the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,722 shares of company stock worth $232,883 over the last 90 days. Company insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently made changes to their positions in ALEC. Vanguard Group Inc. boosted its stake in Alector by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after acquiring an additional 526,037 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Alector by 18.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock worth $4,742,000 after purchasing an additional 159,111 shares during the last quarter. Geode Capital Management LLC grew its stake in Alector by 8.5% in the third quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after purchasing an additional 148,357 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Alector by 32.8% in the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock valued at $2,681,000 after buying an additional 146,015 shares during the last quarter. Finally, FMR LLC raised its stake in Alector by 1.0% during the third quarter. FMR LLC now owns 14,595,014 shares of the company’s stock valued at $68,013,000 after buying an additional 137,794 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

About Alector

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.