Alector Shares Up, Focus Turns to Pipeline After Setback
Alector Inc. shares moved higher Wednesday, climbing ahead of other biotech names. Traders came back to the small-cap neuroscience stock a few weeks after a fresh clinical setback shifted the focus to its earlier-stage pipeline. Shares rose 3.7% to $2.27 late in the morning, opening at $2.20 and hitting a session high at $2.27. The SPDR S&P Biotech ETF, often tracked for small-cap biotech stocks, was up 1.2%.