Alector, Inc. (NASDAQ:ALEC) Stake Boosted by Panagora Asset Management Inc.

Panagora Asset Management Inc. raised its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 61.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,318 shares of the company’s stock after purchasing an additional 135,614 shares during the period. Panagora Asset Management Inc.’s holdings in Alector were worth $1,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. New York State Common Retirement Fund raised its stake in Alector by 104.9% during the fourth quarter. New York State Common Retirement Fund now owns 25,758 shares of the company’s stock worth $206,000 after acquiring an additional 13,189 shares during the period. E Fund Management Co. Ltd. bought a new position in shares of Alector during the fourth quarter valued at approximately $81,000. BNP Paribas Financial Markets raised its position in shares of Alector by 17.7% during the 4th quarter. BNP Paribas Financial Markets now owns 94,955 shares of the company’s stock worth $758,000 after purchasing an additional 14,287 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Alector by 17.5% in the 4th quarter. Principal Financial Group Inc. now owns 48,755 shares of the company’s stock worth $389,000 after purchasing an additional 7,262 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Alector during the 4th quarter valued at approximately $1,920,000. 85.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alector

In related news, CEO Arnon Rosenthal sold 25,135 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the transaction, the chief executive officer now owns 1,975,245 shares in the company, valued at $9,481,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alector news, CEO Arnon Rosenthal sold 25,135 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the transaction, the chief executive officer now directly owns 1,975,245 shares of the company’s stock, valued at approximately $9,481,176. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paula Hammond sold 10,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the sale, the director now directly owns 60,209 shares in the company, valued at approximately $304,657.54. The disclosure for this sale can be found here. In the last three months, insiders sold 50,595 shares of company stock valued at $245,586. Company insiders own 9.10% of the company’s stock.

Alector Stock Performance

Shares of ALEC stock opened at $5.28 on Friday. Alector, Inc. has a 1 year low of $3.66 and a 1 year high of $8.90. The firm has a market capitalization of $508.91 million, a PE ratio of -3.83 and a beta of 0.72. The stock has a fifty day moving average of $5.28 and a two-hundred day moving average of $5.50.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. During the same period in the previous year, the business earned $0.02 earnings per share. Equities research analysts predict that Alector, Inc. will post -1.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

Alector Profile

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.