Alector (NASDAQ:ALEC) Price Target Cut to $9.00

Alector (NASDAQ:ALEC) had its target price decreased by equities research analysts at Mizuho from $10.00 to $9.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s target price indicates a potential upside of 113.78% from the company’s current price.

A number of other equities analysts have also weighed in on ALEC. Cantor Fitzgerald initiated coverage on shares of Alector in a research report on Friday, September 22nd. They issued an “overweight” rating and a $13.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $41.00 price target on shares of Alector in a research note on Friday, August 4th. The Goldman Sachs Group began coverage on shares of Alector in a report on Monday, September 25th. They set a “sell” rating and a $4.00 price target for the company. Stifel Nicolaus lowered their price objective on Alector from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Tuesday, August 8th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $10.00 target price on shares of Alector in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Alector presently has an average rating of “Hold” and an average target price of $13.70.

Alector Price Performance

Shares of ALEC stock traded up $0.27 during midday trading on Friday, hitting $4.21. The company had a trading volume of 1,038,601 shares, compared to its average volume of 592,751. The stock has a market cap of $354.23 million, a price-to-earnings ratio of -2.49 and a beta of 0.69. The company’s 50 day simple moving average is $5.74 and its 200 day simple moving average is $6.47. Alector has a 52-week low of $3.66 and a 52-week high of $9.86.

Insider Transactions at Alector

In related news, CEO Arnon Rosenthal sold 5,647 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $5.19, for a total value of $29,307.93. Following the completion of the transaction, the chief executive officer now directly owns 1,645,448 shares of the company’s stock, valued at approximately $8,539,875.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sara Kenkare-Mitra sold 6,214 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $5.19, for a total value of $32,250.66. Following the sale, the insider now directly owns 177,935 shares in the company, valued at approximately $923,482.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arnon Rosenthal sold 5,647 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $5.19, for a total transaction of $29,307.93. Following the completion of the sale, the chief executive officer now directly owns 1,645,448 shares in the company, valued at $8,539,875.12. The disclosure for this sale can be found here. Insiders have sold 512,975 shares of company stock valued at $3,067,340 in the last quarter. 14.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alector

Several institutional investors and hedge funds have recently modified their holdings of ALEC. Vident Investment Advisory LLC increased its stake in shares of Alector by 11.6% during the 4th quarter. Vident Investment Advisory LLC now owns 11,440 shares of the company’s stock worth $106,000 after purchasing an additional 1,188 shares in the last quarter. Legal & General Group Plc grew its holdings in Alector by 3.0% during the 4th quarter. Legal & General Group Plc now owns 53,302 shares of the company’s stock valued at $492,000 after buying an additional 1,554 shares during the last quarter. Rhumbline Advisers increased its position in Alector by 2.9% during the first quarter. Rhumbline Advisers now owns 61,472 shares of the company’s stock worth $876,000 after buying an additional 1,753 shares in the last quarter. Quantbot Technologies LP purchased a new position in Alector during the first quarter worth $25,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Alector by 3.5% in the second quarter. Wells Fargo & Company MN now owns 55,179 shares of the company’s stock worth $332,000 after acquiring an additional 1,872 shares during the last quarter. Hedge funds and other institutional investors own 69.71% of the company’s stock.

Alector Company Profile

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.