The stock of Alector Inc. (NASDAQ:ALEC) last traded at $8.25, down -5.82% from the previous session.
Data from the available sources indicates that Alector Inc. (NASDAQ:ALEC) is covered by 11 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $54.00 and a low of $6.00, we find $14.00. Given the previous closing price of $8.76, this indicates a potential upside of 59.82 percent. ALEC stock price is now -4.73% away from the 50-day moving average and -17.70% away from the 200-day moving average. The market capitalization of the company currently stands at $724.51M.
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In total, 3 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $20.22 as their price target over the next twelve months.
With the price target reduced from $24 to $12, BofA Securities Downgraded its rating from Buy to Neutral for Alector Inc. (NASDAQ: ALEC). On September 09, 2022, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $27 to quote $13, while ‘Mizuho’ rates the stock as ‘Buy’.
In other news, Romano Gary, Chief Medical Officer sold 2,177 shares of the company’s stock on Sep 02. The stock was sold for $23,120 at an average price of $10.62. Upon completion of the transaction, the Chief Medical Officer now directly owns 90,073 shares in the company, valued at $0.74 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 02, Chief Development Officer King Robert sold 176 shares of the business’s stock. A total of $1,869 was realized by selling the stock at an average price of $10.62. This leaves the insider owning 529,295 shares of the company worth $4.37 million. Insiders disposed of 1,199,883 shares of company stock worth roughly $9.9 million over the past 1 year. A total of 3.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ALEC stock. A new stake in Alector Inc. shares was purchased by JACOBS LEVY EQUITY MANAGEMENT, INC during the first quarter worth $1,695,000. POINT72 ASSET MANAGEMENT, L.P. invested $901,000 in shares of ALEC during the first quarter. In the first quarter, VERITION FUND MANAGEMENT LLC acquired a new stake in Alector Inc. valued at approximately $871,000. ARROWSTREET CAPITAL, LIMITED PARTNERSHIP acquired a new stake in ALEC for approximately $855,000. CANDRIAM S.C.A. purchased a new stake in ALEC valued at around $760,000 in the second quarter. In total, there are 246 active investors with 81.20% ownership of the company’s stock.
With an opening price of $8.80 on Friday morning, Alector Inc. (NASDAQ: ALEC) set off the trading day. During the past 12 months, Alector Inc. has had a low of $6.84 and a high of $18.85. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.80, and a quick ratio of 4.80. The fifty day moving average price for ALEC is $8.64 and a two-hundred day moving average price translates $9.99 for the stock.
The latest earnings results from Alector Inc. (NASDAQ: ALEC) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at $0.12, beating analysts’ expectations of -$0.47 by 0.59. This compares to $1.49 EPS in the same period last year. The company reported revenue of $14.85 million for the quarter, compared to $182.41 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -91.86 percent. For the current quarter, analysts expect ALEC to generate $31.58M in revenue.
Alector Inc.(ALEC) Company Profile
Alector, Inc., a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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. The company also offers AL002, a product candidate that is in Phase II clinical trial for the treatment of Alzheimer’s disease; and AL003, which is in Phase I clinical trial for the treatment of Alzheimer’s disease. In addition, its products in development stage include AL044 that targets MS4A4A, a risk gene for Alzheimer’s disease. Alector, Inc. has a collaboration agreement with Adimab, LLC for the research and development of antibodies; and a strategic collaboration agreement with GlaxoSmithKline plc for the development and commercialization of monoclonal antibodies, such as AL001 and AL101 to treat neurodegenerative diseases. The company was founded in 2013 and is headquartered in South San Francisco, California.
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