Alector, Inc. (NASDAQ:ALEC) Receives Average Recommendation of “Hold” from Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have been given an average rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $4.00.

A number of brokerages have weighed in on ALEC. HC Wainwright increased their price target on Alector from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Morgan Stanley restated an “underweight” rating and issued a $1.50 target price (down from $3.00) on shares of Alector in a research note on Friday, March 7th.

Institutional Trading of Alector

Several large investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Alector in the 1st quarter valued at about $126,000. Acadian Asset Management LLC raised its stake in shares of Alector by 39.8% in the first quarter. Acadian Asset Management LLC now owns 1,440,661 shares of the company’s stock worth $1,768,000 after purchasing an additional 410,205 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Alector by 4.7% in the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock worth $316,000 after purchasing an additional 11,618 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Alector by 25.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,334,032 shares of the company’s stock valued at $1,641,000 after purchasing an additional 274,341 shares in the last quarter. Finally, Almitas Capital LLC lifted its holdings in shares of Alector by 12.9% in the first quarter. Almitas Capital LLC now owns 321,568 shares of the company’s stock valued at $396,000 after purchasing an additional 36,723 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Trading Down 4.9%

Shares of Alector stock opened at $1.54 on Friday. The business has a 50-day moving average price of $1.21 and a two-hundred day moving average price of $1.54. Alector has a 1-year low of $0.87 and a 1-year high of $6.78. The company has a market cap of $153.99 million, a P/E ratio of -0.91 and a beta of 0.71.

About Alector

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, 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.