Lazard Asset Management LLC lifted its holdings in Alector, Inc. (NASDAQ:ALEC – Get Rating) by 99.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,231 shares of the company’s stock after purchasing an additional 3,103 shares during the period. Lazard Asset Management LLC’s holdings in Alector were worth $63,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in ALEC. Federated Hermes Inc. increased its position in Alector by 12.3% in the 1st quarter. Federated Hermes Inc. now owns 5,931,034 shares of the company’s stock worth $84,517,000 after buying an additional 650,187 shares during the period. State Street Corp raised its stake in Alector by 25.2% during the 1st quarter. State Street Corp now owns 3,836,093 shares of the company’s stock valued at $54,664,000 after purchasing an additional 772,398 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Alector by 158.1% in the 1st quarter. Renaissance Technologies LLC now owns 705,780 shares of the company’s stock valued at $10,057,000 after purchasing an additional 432,300 shares during the period. Charles Schwab Investment Management Inc. grew its position in Alector by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 422,696 shares of the company’s stock worth $6,024,000 after purchasing an additional 9,928 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Alector by 141.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 386,087 shares of the company’s stock worth $5,502,000 after purchasing an additional 226,182 shares during the period. Institutional investors and hedge funds own 63.56% of the company’s stock.
Alector Price Performance
Alector stock opened at $7.77 on Friday. The business has a 50 day simple moving average of $8.74 and a 200 day simple moving average of $9.74. The company has a market capitalization of $642.58 million, a PE ratio of -4.68 and a beta of 0.98. Alector, Inc. has a one year low of $6.84 and a one year high of $24.00.
Wall Street Analyst Weigh In
Several research firms recently weighed in on ALEC. Morgan Stanley cut shares of Alector from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $27.00 to $13.00 in a research note on Friday, September 9th. TheStreet lowered Alector from a “c-” rating to a “d” rating in a report on Friday, November 11th. Finally, Citigroup cut their target price on Alector from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.71.
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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