Alector (NASDAQ:ALEC) Price Target Lowered to $5.00 at BTIG Research

Alector (NASDAQ:ALEC) had its target price decreased by BTIG Research from $16.00 to $5.00 in a research report sent to investors on Tuesday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lowered 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.40.

Alector Stock Performance

NASDAQ ALEC opened at $2.59 on Tuesday. Alector has a fifty-two week low of $2.37 and a fifty-two week high of $8.90. The firm has a market capitalization of $253.64 million, a P/E ratio of -1.52 and a beta of 0.66. The stock has a 50-day simple moving average of $4.62 and a two-hundred day simple moving average of $4.99.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. As a group, analysts forecast that Alector will post -1.86 earnings per share for the current year.

Insider Buying and Selling at Alector

In other news, insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the sale, the insider now owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares in the company, valued at $9,509,880.48. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,722 shares of company stock worth $232,883. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALEC. Barclays PLC boosted its stake in Alector by 132.4% during the third quarter. Barclays PLC now owns 176,800 shares of the company’s stock worth $824,000 after buying an additional 100,731 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Alector by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,903,942 shares of the company’s stock worth $8,874,000 after acquiring an additional 148,357 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Alector by 24.2% during the 3rd quarter. Jane Street Group LLC now owns 154,942 shares of the company’s stock worth $722,000 after purchasing an additional 30,180 shares during the period. Wellington Management Group LLP acquired a new stake in Alector in the 3rd quarter valued at approximately $639,000. Finally, Sphera Funds Management LTD. raised its position in Alector by 1.6% in the third quarter. Sphera Funds Management LTD. now owns 620,000 shares of the company’s stock valued at $2,889,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other 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.