Alector Inc (NASDAQ:ALEC) Receives Average Recommendation of “Buy” from Analysts
Alector Inc (NASDAQ:ALEC) has been given an average recommendation of “Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $27.00.
ALEC has been the topic of several recent analyst reports. Cowen restated a “buy” rating on shares of Alector in a research note on Tuesday, November 12th. BTIG Research began coverage on shares of Alector in a report on Wednesday, November 27th. They issued a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research upgraded shares of Alector from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, ValuEngine cut Alector from a “buy” rating to a “hold” rating in a report on Friday, September 27th.
Shares of NASDAQ ALEC opened at $19.44 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.57 and a quick ratio of 6.56. The business has a 50-day moving average of $16.46 and a 200-day moving average of $17.55. The stock has a market capitalization of $1.25 billion and a price-to-earnings ratio of -4.21. Alector has a fifty-two week low of $13.64 and a fifty-two week high of $27.00.
In related news, insider Robert King sold 7,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.46, for a total value of $115,950.00. Also, insider Robert Paul sold 4,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $20.00, for a total transaction of $80,000.00. In the last 90 days, insiders sold 31,500 shares of company stock worth $536,850. 34.40% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY acquired a new stake in Alector during the third quarter worth approximately $150,000. Millennium Management LLC boosted its holdings in shares of Alector by 124.1% during the third quarter. Millennium Management LLC now owns 321,671 shares of the company’s stock worth $4,638,000 after acquiring an additional 178,111 shares during the period. Barclays PLC grew its position in shares of Alector by 80.7% in the third quarter. Barclays PLC now owns 25,597 shares of the company’s stock valued at $369,000 after purchasing an additional 11,431 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Alector by 212.0% in the third quarter. California State Teachers Retirement System now owns 47,206 shares of the company’s stock valued at $681,000 after purchasing an additional 32,076 shares during the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in shares of Alector during the third quarter worth approximately $2,681,000. Hedge funds and other institutional investors own 49.75% 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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