Alector (NASDAQ:ALEC) Sets New 1-Year Low at $6.18

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

In other Alector news, CEO Arnon Rosenthal sold 5,849 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $8.32, for a total transaction of $48,663.68. Following the completion of the sale, the chief executive officer now owns 1,628,546 shares in the company, valued at $13,549,502.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Arnon Rosenthal sold 5,849 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $8.32, for a total transaction of $48,663.68. Following the transaction, the chief executive officer now directly owns 1,628,546 shares of the company’s stock, valued at $13,549,502.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gary Romano sold 3,238 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $8.32, for a total value of $26,940.16. Following the completion of the transaction, the insider now directly owns 104,737 shares in the company, valued at $871,411.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,378 shares of company stock worth $86,345. Company insiders own 12.89% of the company’s stock.

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.

About Alector

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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.