Shares of Alector Inc (NASDAQ:ALEC) traded up 5.9% during mid-day trading on Monday . The company traded as high as $16.00 and last traded at $15.73, 365,894 shares traded hands during mid-day trading. An increase of 51% from the average session volume of 242,728 shares. The stock had previously closed at $14.85.
A number of equities analysts recently issued reports on the company. ValuEngine raised Alector from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Cowen reissued a “buy” rating on shares of Alector in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a buy rating, Alector presently has an average rating of “Buy” and a consensus target price of $26.67.
The firm has a market capitalization of $1.08 billion and a price-to-earnings ratio of -3.43. The business has a fifty day moving average of $18.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.18 and a quick ratio of 6.18.
Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.36) earnings per share (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. Sell-side analysts anticipate that Alector Inc will post -1.38 earnings per share for the current year.
In other Alector news, insider Robert Paul sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $32,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Orbimed Advisors Llc sold 650,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $17.90, for a total value of $11,635,000.00. The disclosure for this sale can be found here. Company insiders own 34.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. bought a new position in Alector during the 1st quarter valued at $41,000. Wells Fargo & Company MN boosted its stake in Alector by 89.2% during the 2nd quarter. Wells Fargo & Company MN now owns 13,650 shares of the company’s stock valued at $259,000 after purchasing an additional 6,434 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Alector by 20.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 56,744 shares of the company’s stock valued at $1,079,000 after purchasing an additional 9,771 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in Alector during the 2nd quarter valued at $251,000. Finally, Bank of New York Mellon Corp boosted its stake in Alector by 150.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,156 shares of the company’s stock valued at $611,000 after purchasing an additional 19,302 shares in the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.
Alector Company Profile (NASDAQ:ALEC)
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.
Read More: What is Cost of Capital?
Receive News & Ratings for Alector Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alector and related companies with MarketBeat.com's FREE daily email newsletter.