Alector’s (NASDAQ:ALEC) lock-up period will end on Tuesday, August 6th. Alector had issued 9,250,000 shares in its IPO on February 7th. The total size of the offering was $175,750,000 based on an initial share price of $19.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
Separately, Cowen reaffirmed a “buy” rating on shares of Alector in a research note on Wednesday, July 17th. Six analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $26.67.
ALEC opened at $19.90 on Friday. The company has a current ratio of 7.92, a quick ratio of 7.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.49 billion and a price-to-earnings ratio of -4.31. Alector has a 52 week low of $15.16 and a 52 week high of $27.00. The firm’s fifty day moving average is $19.29.
Large investors have recently modified their holdings of the business. Baillie Gifford & Co. acquired a new stake in Alector in the 1st quarter worth about $41,000. New Leaf Venture Partners L.L.C. acquired a new stake in Alector in the 1st quarter worth about $14,747,000. Laurion Capital Management LP acquired a new stake in Alector in the 1st quarter worth about $4,680,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in Alector in the 1st quarter worth about $4,088,000. Finally, Federated Investors Inc. PA acquired a new stake in Alector in the 1st quarter worth about $21,965,000. 39.90% of the stock is currently owned by hedge funds and other institutional investors.
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.
Read More: What is a blue-chip stock?
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.