HC Wainwright Reaffirms Buy Rating for Alector (NASDAQ:ALEC)

HC Wainwright reaffirmed their buy rating on shares of Alector (NASDAQ:ALECFree Report) in a research note published on Thursday morning, Benzinga reports. HC Wainwright currently has a $35.00 target price on the stock.

Separately, Cantor Fitzgerald restated an overweight rating on shares of Alector in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $14.00.

Check Out Our Latest Research Report on Alector

Alector Stock Up 9.1 %

Shares of ALEC stock opened at $4.57 on Thursday. Alector has a 12-month low of $3.66 and a 12-month high of $9.06. The firm has a 50 day moving average price of $5.03 and a two-hundred day moving average price of $6.10. The company has a market capitalization of $440.50 million, a PE ratio of -3.31 and a beta of 0.77.

Alector (NASDAQ:ALECGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The business had revenue of $15.89 million for the quarter, compared to analysts’ expectations of $14.63 million. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. As a group, research analysts expect that Alector will post -1.93 EPS for the current year.

Insider Activity at Alector

In other news, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the sale, the chief executive officer now directly owns 1,975,245 shares of the company’s stock, valued at $9,481,176. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Marc Grasso sold 6,920 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $33,216.00. Following the sale, the chief financial officer now directly owns 138,037 shares in the company, valued at approximately $662,577.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnon Rosenthal sold 25,135 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the sale, the chief executive officer now owns 1,975,245 shares in the company, valued at $9,481,176. The disclosure for this sale can be found here. Insiders have sold a total of 40,095 shares of company stock worth $192,456 over the last quarter. 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 bought and sold shares of ALEC. Barclays PLC increased its holdings in shares of Alector by 24.0% in the 3rd quarter. Barclays PLC now owns 138,826 shares of the company’s stock worth $899,000 after buying an additional 26,856 shares during the last quarter. Euclidean Capital LLC boosted its position in Alector by 33.3% during the 3rd quarter. Euclidean Capital LLC now owns 1,307,858 shares of the company’s stock valued at $8,475,000 after buying an additional 326,964 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Alector by 33.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 778,077 shares of the company’s stock worth $5,042,000 after purchasing an additional 195,411 shares during the period. Acadian Asset Management LLC lifted its position in shares of Alector by 68.2% in the 3rd quarter. Acadian Asset Management LLC now owns 153,266 shares of the company’s stock worth $993,000 after purchasing an additional 62,155 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Alector by 64.8% in the 3rd quarter. Hsbc Holdings PLC now owns 36,807 shares of the company’s stock worth $241,000 after purchasing an additional 14,472 shares during the period. Institutional investors own 85.83% of the company’s stock.

Alector Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Alector (NASDAQ:ALEC)

Receive News & Ratings for Alector Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alector and related companies with MarketBeat.com's FREE daily email newsletter.