Separately, Cowen reaffirmed a buy rating on shares of Alector in a research report on Wednesday, July 17th. Seven analysts have rated the stock with a buy rating, Alector presently has an average rating of Buy and a consensus price target of $26.67.
Shares of Alector stock opened at $14.85 on Thursday. Alector has a one year low of $13.64 and a one year high of $27.00. The company has a market cap of $1.02 billion and a price-to-earnings ratio of -3.21. The company has a 50-day moving average price of $18.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.18 and a quick ratio of 7.92.
Alector (NASDAQ:ALEC) last issued its earnings results on Monday, August 12th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). The company had revenue of $6.92 million during the quarter. On average, sell-side analysts predict that Alector will post -1.38 earnings per share for the current fiscal year.
In other Alector news, major shareholder Orbimed Advisors Llc sold 650,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $17.90, for a total transaction of $11,635,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 34.40% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Federated Investors Inc. PA purchased a new position in shares of Alector in the 1st quarter worth approximately $21,965,000. FMR LLC purchased a new position in shares of Alector in the 1st quarter worth approximately $20,862,000. Vanguard Group Inc. lifted its stake in Alector by 5.0% in the second quarter. Vanguard Group Inc. now owns 909,010 shares of the company’s stock valued at $17,271,000 after purchasing an additional 43,274 shares during the last quarter. BlackRock Inc. lifted its stake in Alector by 97.4% in the second quarter. BlackRock Inc. now owns 866,820 shares of the company’s stock valued at $16,470,000 after purchasing an additional 427,642 shares during the last quarter. Finally, New Leaf Venture Partners L.L.C. purchased a new position in Alector in the first quarter valued at approximately $14,747,000. 39.91% of the stock is owned by hedge funds and other institutional investors.
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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