In yesterday’s Wall Street session, Alector Inc. (NASDAQ:ALEC) shares traded at $7.16, down -0.69% from the previous session.
11 analysts cover Alector Inc. (NASDAQ:ALEC), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $41.00 and a low of $6.00, we find $12.00. Given the previous closing price of $7.21, this indicates a potential upside of 66.44 percent. ALEC stock price is now -18.99% away from the 50-day moving average and -24.44% away from the 200-day moving average. The market capitalization of the company currently stands at $620.92M.
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The stock has received a hold rating from 3 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $16.34 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, Kenkare-Mitra Sara, President and Head of R&D sold 10,124 shares of the company’s stock on Mar 02. The stock was sold for $84,216 at an average price of $8.32. Upon completion of the transaction, the President and Head of R&D now directly owns 188,241 shares in the company, valued at $1.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, Chief Executive Officer Rosenthal Arnon sold 5,849 shares of the business’s stock. A total of $48,651 was realized by selling the stock at an average price of $8.32. This leaves the insider owning 1,628,546 shares of the company worth $11.66 million. Insiders disposed of 1,199,596 shares of company stock worth roughly $8.59 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 BRAIDWELL LP during the first quarter worth $5,191,000. DIMENSIONAL FUND ADVISORS LP invested $1,182,000 in shares of ALEC during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in Alector Inc. valued at approximately $786,000. SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC acquired a new stake in ALEC for approximately $512,000. NOMURA HOLDINGS INC purchased a new stake in ALEC valued at around $427,000 in the second quarter. In total, there are 258 active investors with 81.20% ownership of the company’s stock.
On Thursday morning Alector Inc. (NASDAQ: ALEC) stock kicked off with the opening price of $7.24. During the past 12 months, Alector Inc. has had a low of $6.84 and a high of $15.72. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 7.70, and a quick ratio of 7.70. The fifty day moving average price for ALEC is $8.84 and a two-hundred day moving average price translates $9.48 for the stock.
The latest earnings results from Alector Inc. (NASDAQ: ALEC) was released for Sep, 2022. According to the Biotechnology Company, earnings per share came in at -$0.56, missing analysts’ expectations of -$0.54 by -0.02. This compares to -$0.59 EPS in the same period last year. The net profit margin was -99.80% and return on equity was -52.10% for ALEC. The company reported revenue of $14.44 million for the quarter, compared to $13.99 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.19 percent. For the current quarter, analysts expect ALEC to generate $30.16M 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.
