Alector (NASDAQ:ALEC) Rating Reiterated by Cantor Fitzgerald

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

Separately, HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Alector in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.67.

Alector Price Performance

NASDAQ:ALEC traded up $0.05 during trading hours on Tuesday, reaching $5.73. 330,557 shares of the company were exchanged, compared to its average volume of 623,657. The business has a 50 day moving average of $5.46 and a 200 day moving average of $5.39. Alector has a 1-year low of $3.66 and a 1-year high of $8.90. The company has a market capitalization of $552.29 million, a P/E ratio of -4.12 and a beta of 0.68.

Alector (NASDAQ:ALEC) last released its earnings results 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. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. The firm had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.04 million. During the same period in the prior year, the company posted $0.02 EPS. As a group, equities research analysts anticipate that Alector will post -1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Alector

In other news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $304,657.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alector news, Director Paula Hammond sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.06, for a total transaction of $53,130.00. Following the sale, the director now directly owns 60,209 shares of the company’s stock, valued at approximately $304,657.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alector

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in Alector by 17.7% in the fourth quarter. BNP Paribas Financial Markets now owns 94,955 shares of the company’s stock valued at $758,000 after acquiring an additional 14,287 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Alector by 17.5% in the 4th quarter. Principal Financial Group Inc. now owns 48,755 shares of the company’s stock valued at $389,000 after purchasing an additional 7,262 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Alector during the fourth quarter worth $1,920,000. Rafferty Asset Management LLC increased its position in shares of Alector by 2.3% during the fourth quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock worth $1,523,000 after buying an additional 4,287 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Alector during the first quarter worth $40,000. Institutional investors and hedge funds 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.