Cubist Systematic Strategies LLC Increases Position in Alector, Inc. (NASDAQ:ALEC)

Cubist Systematic Strategies LLC raised its position in Alector, Inc. (NASDAQ:ALEC) by 73.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,218 shares of the company’s stock after purchasing an additional 38,947 shares during the period. Cubist Systematic Strategies LLC’s holdings in Alector were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Alector in the 2nd quarter valued at $29,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Alector in the 1st quarter valued at $40,000. Lazard Asset Management LLC purchased a new position in shares of Alector in the 1st quarter valued at $59,000. Caxton Associates LP grew its position in shares of Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after buying an additional 5,933 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Alector by 89.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after buying an additional 8,670 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alector

In related news, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the sale, the chief financial officer now owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alector news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.06, for a total value of $53,130.00. Following the sale, the director now owns 60,209 shares of the company’s stock, valued at $304,657.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the sale, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock worth $286,013 over the last 90 days. Company insiders own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ALEC shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Alector in a research report on Thursday, June 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alector has an average rating of “Buy” and a consensus price target of $17.75.

Alector Stock Performance

ALEC stock opened at $4.80 on Monday. Alector, Inc. has a one year low of $3.66 and a one year high of $8.90. The stock has a market capitalization of $467.14 million, a PE ratio of -2.67 and a beta of 0.68. The company has a fifty day moving average of $5.11 and a 200-day moving average of $5.22.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The company had revenue of $15.08 million during the quarter, compared to analysts’ expectations of $16.04 million. During the same quarter last year, the business earned $0.02 EPS. Equities analysts forecast that Alector, Inc. will post -1.92 earnings per share for the current fiscal year.

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.