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Alector downgraded at Stifel on prospects for late-stage dementia candidate

Mar. 08, 2022 10:34 AM ETAlector, Inc. (ALEC) StockGSKBy: Dulan Lokuwithana, SA News Editor5 Comments

Neuron system disease

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The shares of the clinical-stage biotech, Alector (ALEC -21.1%) have reached a 15-month low after Stifel downgraded it to Hold from Buy with cautious remarks on the company’s dementia candidate AL001. The price target lowered

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Comments (5)

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We'll know more directly from the company next week. For those interested this is their PR dated March 8th:

Company to Host Analyst and Investor Conference Call on March 15 at 8:30 a.m. ET
SOUTH SAN FRANCISCO, Calif., March 08, 2022 (GLOBE NEWSWIRE) -- Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced an oral presentation at the upcoming 2022 International Conference on Alzheimer’s and Parkinson’s Diseases (AD/PDTM) being held March 15-20, 2022 virtually and in person in Barcelona, Spain.

Alector will present 12-month results from the INFRONT-2 Phase 2 open-label study of AL001 in the symptomatic cohort of Frontotemporal Dementia patients with a C9orf72 mutation. The Company plans to host a conference call to review these data on March 15, 2022, at 8:30 a.m. ET.

MikeFromNZ profile picture
@strendic Maybe some Stifel clients want to buy the stock ahead of the update?
@MikeFromNZ It could be just a coincidental timing. What kept me on the sideline from buying entry position in ALEC is all the insider selling in Q4 of last year.
MikeFromNZ profile picture
@strendic Agreed; I decided to watch from the sidelines given ongoing selling.
Disappointing news. Alzheimer therapies are needed to combat a terrible disease.

long $GSK

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