The Manufacturers Life Insurance Company Purchases 6,825 Shares of Alector, Inc. (NASDAQ:ALEC)

The Manufacturers Life Insurance Company raised its position in Alector, Inc. (NASDAQ:ALEC) by 5.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 124,819 shares of the company’s stock after purchasing an additional 6,825 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alector were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ALEC. Allspring Global Investments Holdings LLC bought a new stake in Alector in the 1st quarter valued at $40,000. China Universal Asset Management Co. Ltd. boosted 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 worth $111,000 after purchasing an additional 8,670 shares during the last quarter. Swiss National Bank raised its position in shares of Alector by 6.5% in the 1st quarter. Swiss National Bank now owns 131,900 shares of the company’s stock valued at $794,000 after acquiring an additional 8,000 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Alector during the first quarter worth about $760,000. Finally, Russell Investments Group Ltd. raised its holdings in Alector by 9.9% during the 1st quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company’s stock worth $472,000 after buying an additional 7,066 shares during the period. Institutional investors own 85.83% of the company’s stock.

Alector Stock Up 3.5 %

ALEC stock opened at $5.07 on Wednesday. The firm has a market cap of $488.67 million, a P/E ratio of -3.67 and a beta of 0.68. The company’s 50-day moving average price is $5.11 and its two-hundred day moving average price is $5.20. Alector, Inc. has a 12 month low of $3.66 and a 12 month high of $8.90.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. The company had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.04 million. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. During the same period in the previous year, the firm posted $0.02 EPS. Equities analysts predict that Alector, Inc. will post -1.92 EPS for the current year.

Insider Activity at Alector

In other news, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction dated 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 directly owns 1,948,746 shares in the company, valued at $9,509,880.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at $638,011.20. 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 available through this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,948,746 shares in the company, valued at $9,509,880.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock worth $286,013 in the last quarter. 9.10% of the stock is owned by insiders.

Analysts Set New Price Targets

ALEC has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Alector in a report on Thursday, June 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alector currently has an average rating of “Buy” and an average price target of $17.75.

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.