Separately, Cowen reissued a buy rating on shares of Alector in a research note on Wednesday, July 17th. Seven equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average price target of $26.67.
Shares of ALEC opened at $14.85 on Thursday. The business has a 50-day moving average of $18.96. Alector has a 1-year low of $13.64 and a 1-year high of $27.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.92 and a current ratio of 6.18.
In other Alector news, major shareholder Orbimed Advisors Llc sold 650,000 shares of Alector stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $17.90, for a total transaction of $11,635,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 34.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA acquired a new stake in shares of Alector during the 1st quarter valued at about $21,965,000. FMR LLC acquired a new stake in shares of Alector during the 1st quarter valued at about $20,862,000. Vanguard Group Inc. lifted its holdings in shares of Alector by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 909,010 shares of the company’s stock valued at $17,271,000 after buying an additional 43,274 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Alector by 97.4% during the 2nd quarter. BlackRock Inc. now owns 866,820 shares of the company’s stock valued at $16,470,000 after buying an additional 427,642 shares during the last quarter. Finally, New Leaf Venture Partners L.L.C. acquired a new stake in shares of Alector during the 1st quarter valued at about $14,747,000. 39.91% of the stock is currently owned by institutional investors.
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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