Alector (NASDAQ:ALEC) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research cut shares of Alector (NASDAQ:ALEC) from a hold rating to a sell rating in a report released on Monday morning, Zacks.com reports.

According to Zacks, “Alector Inc. is a clinical stage biotechnology company pioneering immuno-neurology, a novel therapeutic approach for the treatment of neurodegenerative diseases. Its product portfolio includes AL001, AL101, Al002 and AL003 which are in clinical stage. Alector Inc. is headquartered in South San Francisco, California. “

A number of other equities research analysts have also commented on the company. Cowen restated a buy rating on shares of Alector in a research report on Wednesday, July 17th. ValuEngine lowered Alector from a buy rating to a hold rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Alector has a consensus rating of Buy and an average price target of $26.67.

NASDAQ ALEC traded down $0.10 during trading on Monday, reaching $14.58. 1,842 shares of the company’s stock were exchanged, compared to its average volume of 576,219. Alector has a fifty-two week low of $13.64 and a fifty-two week high of $27.00. The firm has a market capitalization of $1.00 billion and a PE ratio of -3.16. The company has a current ratio of 6.18, a quick ratio of 6.18 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $16.52 and its 200-day simple moving average is $18.82.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.03). The business had revenue of $6.92 million during the quarter. Equities analysts forecast that Alector will post -1.39 EPS for the current fiscal year.

In other news, insider Robert Paul sold 10,000 shares of Alector stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $14.19, for a total transaction of $141,900.00. Following the completion of the sale, the insider now directly owns 323,719 shares in the company, valued at approximately $4,593,572.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Orbimed Advisors Llc sold 650,000 shares of Alector stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $17.90, for a total value of $11,635,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 676,000 shares of company stock valued at $12,079,700. 34.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ALEC. Gilder Gagnon Howe & Co. LLC acquired a new stake in Alector in the 1st quarter worth approximately $4,088,000. FMR LLC acquired a new stake in Alector in the 1st quarter worth approximately $20,862,000. Wells Fargo & Company MN lifted its holdings in Alector by 89.2% in the 2nd quarter. Wells Fargo & Company MN now owns 13,650 shares of the company’s stock worth $259,000 after purchasing an additional 6,434 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Alector by 194.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 294,574 shares of the company’s stock worth $5,299,000 after purchasing an additional 194,525 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Alector in the 2nd quarter worth approximately $1,193,000. Hedge funds and other institutional investors own 40.52% of the company’s stock.

Alector Company Profile

Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.

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