Alector Inc (NASDAQ:ALEC)’s stock price was down 10.2% during trading on Monday . The stock traded as low as $26.53 and last traded at $27.35, approximately 988,012 shares traded hands during trading. An increase of 39% from the average daily volume of 713,242 shares. The stock had previously closed at $30.47.
Several equities research analysts recently commented on ALEC shares. ValuEngine cut Alector from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. BTIG Research started coverage on Alector in a report on Wednesday, November 27th. They set a “buy” rating and a $28.00 target price on the stock. Cowen reissued a “buy” rating on shares of Alector in a report on Monday, December 16th. Zacks Investment Research cut Alector from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus started coverage on Alector in a report on Tuesday, February 18th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Alector presently has a consensus rating of “Buy” and a consensus price target of $27.40.
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 stock has a market cap of $2.10 billion and a P/E ratio of -10.02. The company has a fifty day moving average of $25.90 and a 200 day moving average of $19.22.
In other Alector news, insider Sabah Oney sold 16,667 shares of Alector stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $30.00, for a total value of $500,010.00. Following the transaction, the insider now owns 610,585 shares in the company, valued at $18,317,550. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Calvin Yu sold 1,315 shares of Alector stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $19.39, for a total transaction of $25,497.85. In the last 90 days, insiders sold 1,479,650 shares of company stock worth $28,962,767. 34.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of ALEC. Bank of Montreal Can grew its position in Alector by 44.0% in the fourth quarter. Bank of Montreal Can now owns 3,826 shares of the company’s stock worth $66,000 after buying an additional 1,169 shares during the last quarter. Victory Capital Management Inc. grew its position in 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 buying an additional 2,285 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new position in Alector in the third quarter worth approximately $150,000. California Public Employees Retirement System acquired a new position in Alector in the third quarter worth approximately $157,000. Finally, Voya Investment Management LLC acquired a new position in Alector in the third quarter worth approximately $165,000. Hedge funds and other institutional investors own 53.82% 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.
