Alector, Inc. (NASDAQ:ALEC – Get Rating)’s stock price traded down 5.7% on Friday . The company traded as low as $8.17 and last traded at $8.26. 11,360 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 475,755 shares. The stock had previously closed at $8.76.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. TheStreet downgraded shares of Alector from a “c-” rating to a “d” rating in a research report on Friday, November 11th. Bank of America lowered shares of Alector from a “buy” rating to a “neutral” rating and cut their price objective for the company from $24.00 to $12.00 in a report on Friday. Finally, Citigroup lowered their target price on Alector from $19.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.00.
Alector Stock Down 5.8 %
The business has a 50-day moving average price of $8.61 and a 200-day moving average price of $9.76. The firm has a market capitalization of $682.28 million, a price-to-earnings ratio of -4.97 and a beta of 0.87.
Institutional Trading of Alector
Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Alector during the first quarter worth $25,000. Great West Life Assurance Co. Can acquired a new stake in Alector during the 3rd quarter worth about $27,000. Lazard Asset Management LLC grew its stake in Alector by 99.2% during the 2nd quarter. Lazard Asset Management LLC now owns 6,231 shares of the company’s stock valued at $63,000 after purchasing an additional 3,103 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Alector in the third quarter valued at about $65,000. Finally, Texas Yale Capital Corp. purchased a new position in shares of Alector in the third quarter worth about $95,000. Hedge funds and other institutional investors own 64.96% of the company’s stock.
Alector Company Profile
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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