TD Cowen Downgrades Alector Inc. (ALEC) to Hold

TD Cowen analyst Yaron Werber downgraded Alector Inc. (NASDAQ: ALEC) from Buy to Hold.

The analyst comments: "Ph3 INFRONT-3 miss (CDR-SB, imaging/biomarkers) ends latozinemab program. Focus shifts to Ph2 PROGRESS-AD (nivisnebart; interim H1:26) and ABC pipeline (AL-037/AL-137, AL050), which is early and not validated. While 49% headcount cut is step in right direction, cash burn is high with runway to 2027. PGRN clinical value uncertain given miss, and near-term catalysts are few—we move to the sidelines."

For an analyst ratings summary and ratings history on Alector Inc. click here. For more ratings news on Alector Inc. click here.

Shares of Alector Inc. closed at $3.21 yesterday.

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