Shares of Alector, Inc. (NASDAQ:ALEC – Get Rating) have earned a consensus rating of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $34.43.
ALEC has been the topic of several research reports. Zacks Investment Research raised Alector from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 2nd. Stifel Nicolaus cut Alector from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $18.00 in a research note on Tuesday, March 8th. HC Wainwright reissued a “buy” rating and issued a $41.00 price target on shares of Alector in a research note on Wednesday, March 16th. Citigroup decreased their price target on Alector from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Finally, The Goldman Sachs Group started coverage on Alector in a research note on Tuesday, April 12th. They set a “sell” rating and a $9.00 target price for the company.
NASDAQ ALEC traded down $0.13 on Tuesday, reaching $11.34. The company had a trading volume of 17,930 shares, compared to its average volume of 739,534. The firm has a market capitalization of $930.33 million, a PE ratio of -21.09 and a beta of 1.15. Alector has a 1 year low of $10.83 and a 1 year high of $43.32. The firm has a 50-day moving average of $14.69 and a 200-day moving average of $18.65.
Several institutional investors and hedge funds have recently bought and sold shares of ALEC. Eaton Vance Management acquired a new stake in Alector in the 4th quarter valued at approximately $27,000. Lazard Asset Management LLC bought a new stake in shares of Alector in the 4th quarter worth approximately $64,000. Rockefeller Capital Management L.P. lifted its position in shares of Alector by 50.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,004 shares of the company’s stock worth $68,000 after acquiring an additional 1,004 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Alector during the 3rd quarter worth approximately $75,000. Finally, Exane Derivatives lifted its position in shares of Alector by 4,159.0% during the 4th quarter. Exane Derivatives now owns 4,983 shares of the company’s stock worth $103,000 after buying an additional 4,866 shares during the period. 64.95% of the stock is owned by institutional investors.
About Alector (Get Rating)
Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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.
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