Alector (NASDAQ:ALEC) Upgraded at Mizuho

Key Points

• Alector has been upgraded from a "neutral" to an "outperform" rating by Mizuho, which also increased its target price to $3.50 from $2.50, suggesting a potential upside of nearly 99%.
• HC Wainwright has raised its target price for Alector to $10.00 while assigning a "buy" rating, indicating strong confidence from multiple analysts despite mixed ratings overall.
• The stock has shown volatility, with a 52-week low of $0.87 and a high of $6.63, reflecting its potential as a high-risk, high-reward investment.

Mizuho upgraded shares of Alector (NASDAQ:ALEC - Free Report) from a neutral rating to an outperform rating in a report issued on Monday morning, Marketbeat reports. Mizuho currently has $3.50 price objective on the stock, up from their previous price objective of $2.50.

Separately, HC Wainwright raised their target price on shares of Alector from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Alector presently has a consensus rating of "Hold" and an average price target of $4.17.

Alector Price Performance

NASDAQ:ALEC traded down $0.08 during mid-day trading on Monday, hitting $1.53. 381,483 shares of the company's stock traded hands, compared to its average volume of 733,007. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.34 and a current ratio of 3.34. The firm's 50 day simple moving average is $1.52 and its 200 day simple moving average is $1.44. Alector has a 1 year low of $0.87 and a 1 year high of $6.40. The company has a market cap of $152.48 million, a PE ratio of -1.22 and a beta of 0.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Alector by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,914,250 shares of the company's stock worth $3,619,000 after purchasing an additional 10,308 shares in the last quarter. RPO LLC acquired a new position in shares of Alector during the fourth quarter worth $50,000. Wells Fargo & Company MN lifted its position in shares of Alector by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 37,966 shares of the company's stock worth $72,000 after purchasing an additional 12,653 shares in the last quarter. Aristides Capital LLC acquired a new position in shares of Alector during the fourth quarter worth $201,000. Finally, Invesco Ltd. lifted its position in shares of Alector by 27.7% during the fourth quarter. Invesco Ltd. now owns 47,985 shares of the company's stock worth $91,000 after purchasing an additional 10,405 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

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.