Mizuho Cuts Alector (NASDAQ:ALEC) Price Target to $9.00

Alector (NASDAQ:ALEC) had its price target dropped by research analysts at Mizuho from $10.00 to $9.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Mizuho’s price objective indicates a potential upside of 113.78% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Alector in a research report on Friday, August 4th. Stifel Nicolaus lowered their price target on shares of Alector from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Tuesday, August 8th. Cantor Fitzgerald started coverage on Alector in a research report on Friday, September 22nd. They issued an “overweight” rating and a $13.00 price target for the company. The Goldman Sachs Group began coverage on Alector in a research report on Monday, September 25th. They set a “sell” rating and a $4.00 price objective on the stock. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $10.00 target price on shares of Alector in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.70.

Alector Stock Up 6.9 %

Alector stock traded up $0.27 during mid-day trading on Friday, reaching $4.21. 1,038,601 shares of the company’s stock traded hands, compared to its average volume of 592,751. Alector has a 12-month low of $3.66 and a 12-month high of $9.86. The stock has a 50 day moving average of $5.74 and a two-hundred day moving average of $6.47. The company has a market cap of $354.23 million, a price-to-earnings ratio of -2.49 and a beta of 0.69.

Insider Activity at Alector

In other news, CEO Arnon Rosenthal sold 5,647 shares of Alector stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $5.19, for a total transaction of $29,307.93. Following the completion of the sale, the chief executive officer now directly owns 1,645,448 shares in the company, valued at $8,539,875.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alector news, CEO Arnon Rosenthal sold 5,647 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $5.19, for a total transaction of $29,307.93. Following the completion of the transaction, the chief executive officer now directly owns 1,645,448 shares of the company’s stock, valued at approximately $8,539,875.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Kenkare-Mitra sold 6,214 shares of Alector stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $5.19, for a total transaction of $32,250.66. Following the sale, the insider now owns 177,935 shares of the company’s stock, valued at $923,482.65. The disclosure for this sale can be found here. Insiders sold 512,975 shares of company stock valued at $3,067,340 in the last three months. 14.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alector

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Alector by 58.3% in the 3rd quarter. FMR LLC now owns 12,172,045 shares of the company’s stock valued at $78,875,000 after buying an additional 4,481,420 shares during the period. BlackRock Inc. boosted its stake in Alector by 3.2% during the second quarter. BlackRock Inc. now owns 7,825,553 shares of the company’s stock worth $47,032,000 after buying an additional 241,637 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Alector by 12.3% during the 1st quarter. Federated Hermes Inc. now owns 5,931,034 shares of the company’s stock valued at $84,517,000 after acquiring an additional 650,187 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Alector by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,753,194 shares of the company’s stock valued at $54,426,000 after buying an additional 44,498 shares during the period. Finally, Braidwell LP grew its position in Alector by 28.8% in the second quarter. Braidwell LP now owns 4,131,315 shares of the company’s stock worth $24,829,000 after acquiring an additional 925,000 shares during the period. 69.71% of the stock is owned by institutional investors and hedge funds.

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.