Other analysts also recently issued reports about the company. Zacks Investment Research raised Alector from a sell rating to a hold rating in a research note on Tuesday, July 28th. Goldman Sachs Group assumed coverage on Alector in a research note on Tuesday, April 28th. They issued a buy rating and a $32.00 price objective for the company. ValuEngine raised Alector from a hold rating to a buy rating in a research note on Tuesday, July 28th. HC Wainwright started coverage on Alector in a research note on Wednesday, June 24th. They issued a buy rating and a $41.00 price objective for the company. Finally, Morgan Stanley increased their price target on Alector from $29.00 to $31.00 and gave the company an overweight rating in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $31.67.
Shares of NASDAQ:ALEC opened at $15.67 on Wednesday. The business’s 50 day simple moving average is $24.99 and its two-hundred day simple moving average is $26.41. The firm has a market cap of $1.24 billion, a P/E ratio of -8.66 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.75 and a current ratio of 7.75. Alector has a 52-week low of $13.64 and a 52-week high of $35.93.
In other Alector news, VP Calvin Yu sold 1,343 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $31.26, for a total value of $41,982.18. Following the completion of the sale, the vice president now directly owns 110,986 shares of the company’s stock, valued at $3,469,422.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Paul sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $22.96, for a total value of $229,600.00. Following the completion of the sale, the insider now directly owns 214,097 shares of the company’s stock, valued at $4,915,667.12. The disclosure for this sale can be found here. Insiders have sold 25,720 shares of company stock valued at $705,733 over the last ninety days. 13.90% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in Alector in the first quarter worth $55,000. US Bancorp DE increased its position in Alector by 460.0% in the first quarter. US Bancorp DE now owns 2,800 shares of the company’s stock worth $68,000 after buying an additional 2,300 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Alector by 18.7% in the first quarter. Ameritas Investment Partners Inc. now owns 2,989 shares of the company’s stock worth $72,000 after acquiring an additional 470 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Alector by 43.9% in the fourth quarter. Victory Capital Management Inc. now owns 7,494 shares of the company’s stock worth $129,000 after acquiring an additional 2,285 shares during the period. Finally, Strs Ohio bought a new position in shares of Alector in the second quarter worth $207,000. 60.38% of the stock is owned by institutional investors and hedge funds.
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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