Alector’s (NASDAQ:ALEC) lock-up period is set to expire on Tuesday, August 6th. Alector had issued 9,250,000 shares in its public offering on February 7th. The total size of the offering was $175,750,000 based on an initial share price of $19.00. After the end of Alector’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Separately, Cowen reissued a “buy” rating on shares of Alector in a report on Wednesday, July 17th. Six research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $26.67.
Shares of NASDAQ:ALEC opened at $18.40 on Tuesday. The business has a 50-day moving average of $19.23. The company has a quick ratio of 7.92, a current ratio of 7.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.27 billion and a P/E ratio of -3.98. Alector has a fifty-two week low of $15.16 and a fifty-two week high of $27.00.
Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.12). The company had revenue of $5.61 million for the quarter. As a group, analysts predict that Alector will post -1.38 EPS for the current year.
A number of institutional investors have recently made changes to their positions in ALEC. Baillie Gifford & Co. bought a new stake in Alector in the 1st quarter valued at about $41,000. Dean Capital Investments Management LLC bought a new stake in Alector in the 1st quarter valued at about $624,000. Gilder Gagnon Howe & Co. LLC bought a new stake in Alector in the 1st quarter valued at about $4,088,000. Laurion Capital Management LP bought a new stake in Alector in the 1st quarter valued at about $4,680,000. Finally, New Leaf Venture Partners L.L.C. bought a new stake in Alector in the 1st quarter valued at about $14,747,000. Institutional investors and hedge funds own 39.90% of the company’s stock.
Alector Company Profile
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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