Alector Inc (NASDAQ:ALEC)’s share price was up 6.6% during mid-day trading on Tuesday . The stock traded as high as $16.10 and last traded at $16.00, approximately 328,038 shares were traded during trading. An increase of 14% from the average daily volume of 288,251 shares. The stock had previously closed at $15.01.
Several research analysts have issued reports on ALEC shares. Zacks Investment Research lowered shares of Alector from a “hold” rating to a “sell” rating in a report on Tuesday. Cowen restated a “buy” rating on shares of Alector in a report on Wednesday, July 17th. Finally, ValuEngine lowered shares of Alector from a “buy” rating to a “hold” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $26.67.
The firm’s 50 day moving average price is $16.30 and its two-hundred day moving average price is $18.63. The company has a market cap of $990.15 million and a P/E ratio of -3.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.18 and a current ratio of 6.18.
In other news, major shareholder Orbimed Advisors Llc sold 650,000 shares of Alector stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $17.90, for a total value of $11,635,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Paul sold 2,000 shares of Alector stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $16.00, for a total transaction of $32,000.00. The disclosure for this sale can be found here. Insiders sold a total of 686,000 shares of company stock valued at $12,229,800 in the last quarter. 34.40% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in ALEC. Virtus ETF Advisers LLC acquired a new stake in Alector in the 2nd quarter valued at $251,000. Wells Fargo & Company MN grew its position in Alector by 89.2% in the 2nd quarter. Wells Fargo & Company MN now owns 13,650 shares of the company’s stock valued at $259,000 after purchasing an additional 6,434 shares during the period. Bank of New York Mellon Corp grew its position in Alector by 150.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,156 shares of the company’s stock valued at $611,000 after purchasing an additional 19,302 shares during the period. Citadel Advisors LLC acquired a new stake in Alector in the 2nd quarter valued at $798,000. Finally, Charles Schwab Investment Management Inc. grew its position in Alector by 20.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 56,744 shares of the company’s stock valued at $1,079,000 after purchasing an additional 9,771 shares during the period. Institutional investors own 40.52% of the company’s stock.
About Alector (NASDAQ:ALEC)
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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