American Century Companies Inc. Cuts Position in Alector, Inc. (NASDAQ:ALEC)

American Century Companies Inc. trimmed its position in Alector, Inc. (NASDAQ:ALEC) by 29.9% during the second quarter, HoldingsChannel.com reports. The firm owned 50,083 shares of the company’s stock after selling 21,346 shares during the quarter. American Century Companies Inc.’s holdings in Alector were worth $227,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ALEC. Vanguard Group Inc. raised its holdings in shares of Alector by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after buying an additional 526,037 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Alector by 211.6% during the 1st quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after buying an additional 301,936 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Alector by 61.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after buying an additional 135,614 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Alector by 16.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 922,799 shares of the company’s stock valued at $5,555,000 after buying an additional 128,515 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Alector during the 1st quarter valued at about $760,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Price Performance

Shares of ALEC opened at $4.62 on Friday. The company has a market cap of $445.30 million, a P/E ratio of -3.35 and a beta of 0.68. The stock has a fifty day moving average price of $5.24 and a 200 day moving average price of $5.27. Alector, Inc. has a 12 month low of $3.66 and a 12 month high of $8.90.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same period in the prior year, the business earned $0.02 EPS. As a group, research analysts anticipate that Alector, Inc. will post -1.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALEC shares. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Alector in a research report on Thursday, June 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $17.75.

Insiders Place Their Bets

In other Alector news, 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 transaction of $53,130.00. Following the completion of the transaction, the director now owns 60,209 shares in the company, valued at approximately $304,657.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the director now owns 60,209 shares of the company’s stock, valued at $304,657.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is owned by company insiders.

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.