Alector (NASDAQ:ALEC) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Alector (NASDAQ:ALEC) in a research report report published on Tuesday morning, Benzinga reports.

Separately, HC Wainwright reiterated a buy rating and set a $35.00 price objective on shares of Alector in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, Alector currently has a consensus rating of Moderate Buy and an average target price of $14.67.

Alector Price Performance

Alector stock opened at $5.75 on Tuesday. The business has a fifty day moving average price of $5.51 and a 200-day moving average price of $5.38. Alector has a 1-year low of $3.66 and a 1-year high of $8.90. The stock has a market capitalization of $554.21 million, a price-to-earnings ratio of -4.17 and a beta of 0.68.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same quarter last year, the business posted $0.02 EPS. On average, equities research analysts anticipate that Alector will post -1.92 earnings per share for the current fiscal year.

Insider Activity at Alector

In related news, Director Paula Hammond sold 10,500 shares of Alector stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the transaction, the director now owns 60,209 shares in the company, valued at approximately $304,657.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Paula Hammond sold 10,500 shares of Alector stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the sale, the director now directly owns 60,209 shares in the company, valued at approximately $304,657.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the transaction, the chief financial officer now owns 130,740 shares in the company, valued at $638,011.20. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock worth $286,013 in the last 90 days. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALEC. Gladius Capital Management LP purchased a new stake in shares of Alector during the second quarter worth $29,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alector during the first quarter worth about $40,000. Lazard Asset Management LLC acquired a new stake in shares of Alector during the first quarter worth about $59,000. Caxton Associates LP raised its holdings in Alector by 41.3% during the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after purchasing an additional 5,933 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Alector by 89.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock worth $111,000 after purchasing an additional 8,670 shares in the last quarter. 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.