Shares of Alector, Inc. (NASDAQ:ALEC) have been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $39.50.
Several equities research analysts have recently issued reports on ALEC shares. lifted their price target on Alector from $31.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, July 6th. William Blair began coverage on Alector in a report on Monday, September 27th. They set an “outperform” rating and a $33.00 price target for the company. The Goldman Sachs Group boosted their target price on Alector from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 3rd. HC Wainwright restated a “buy” rating and issued a $41.00 target price on shares of Alector in a report on Wednesday, July 7th. Finally, Morgan Stanley boosted their target price on Alector from $33.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, July 16th.
Shares of NASDAQ ALEC opened at $24.22 on Monday. Alector has a one year low of $9.12 and a one year high of $43.32. The business has a 50-day moving average price of $25.34 and a two-hundred day moving average price of $23.42.
In related news, Director Richard H. Scheller sold 56,260 shares of Alector stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $27.68, for a total transaction of $1,557,276.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 100,000 shares of the stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $25.80, for a total transaction of $2,580,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 279,210 shares of company stock valued at $7,294,058. 14.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ALEC. Franklin Resources Inc. grew its holdings in Alector by 58.3% in the 1st quarter. Franklin Resources Inc. now owns 3,258,108 shares of the company’s stock valued at $65,618,000 after buying an additional 1,199,285 shares in the last quarter. FMR LLC bought a new stake in shares of Alector in the first quarter valued at about $20,862,000. Morgan Stanley grew its stake in shares of Alector by 819.7% in the first quarter. Morgan Stanley now owns 948,464 shares of the company’s stock valued at $19,102,000 after acquiring an additional 845,333 shares in the last quarter. EcoR1 Capital LLC bought a new position in Alector during the first quarter worth about $12,136,000. Finally, Pier Capital LLC acquired a new stake in Alector in the 1st quarter worth about $10,179,000. Institutional investors own 60.31% of the company’s stock.
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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