Alector, Inc. (NASDAQ:ALEC – Get Rating) reached a new 52-week low on Thursday . The stock traded as low as $6.18 and last traded at $6.19, with a volume of 32185 shares traded. The stock had previously closed at $6.45.
Analyst Upgrades and Downgrades
Several research firms have weighed in on ALEC. Morgan Stanley dropped their price objective on Alector from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, March 3rd. Citigroup dropped their price objective on Alector from $17.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, March 1st. Mizuho dropped their price objective on Alector from $15.00 to $12.00 in a report on Friday, March 3rd. Bank of America lowered Alector from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $12.00 in a research report on Friday, January 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $41.00 target price on shares of Alector in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Alector has a consensus rating of “Hold” and a consensus price target of $15.38.
Alector Price Performance
The company has a 50-day simple moving average of $8.52 and a 200-day simple moving average of $8.81. The firm has a market cap of $524.75 million, a PE ratio of -3.93 and a beta of 0.83.
Insider Activity at Alector
Institutional Investors Weigh In On Alector
Hedge funds have recently modified their holdings of the company. Raymond James & Associates purchased a new position in Alector in the 1st quarter valued at about $1,106,000. Bank of New York Mellon Corp increased its holdings in Alector by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 206,696 shares of the company’s stock valued at $2,945,000 after purchasing an additional 1,983 shares during the last quarter. American Century Companies Inc. boosted its position in Alector by 84.7% in the 1st quarter. American Century Companies Inc. now owns 140,887 shares of the company’s stock valued at $2,008,000 after buying an additional 64,589 shares during the period. AlphaCrest Capital Management LLC purchased a new position in Alector in the 1st quarter valued at approximately $404,000. Finally, MetLife Investment Management LLC boosted its position in Alector by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 31,825 shares of the company’s stock valued at $454,000 after buying an additional 11,276 shares during the period. 64.96% of the stock is owned by hedge funds and other institutional investors.
Alector, Inc operates as a clinical-stage biopharmaceutical company, which engages in pioneering of immuno-neurology. It develops portfolio of innate immune system programs, designed to functionally repair genetic mutations and enable the rejuvenated immune cells to counteract emerging brain pathologies.
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