Wellington Management Group LLP Invests $639,000 in Alector, Inc. (NASDAQ:ALEC)

Wellington Management Group LLP purchased a new stake in Alector, Inc. (NASDAQ:ALEC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 137,152 shares of the company’s stock, valued at approximately $639,000. Wellington Management Group LLP owned 0.14% of Alector at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALEC. Point72 DIFC Ltd acquired a new position in shares of Alector during the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alector in the third quarter valued at approximately $40,000. nVerses Capital LLC acquired a new stake in Alector during the third quarter worth approximately $51,000. Valence8 US LP bought a new position in Alector during the 3rd quarter worth $69,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Alector by 65.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock valued at $87,000 after acquiring an additional 7,395 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALEC. Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Stifel Nicolaus downgraded shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research note on Monday, December 16th. Mizuho cut shares of Alector from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $9.00 to $2.50 in a research report on Tuesday. BTIG Research cut their price target on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.75.

Alector Price Performance

ALEC stock opened at $1.86 on Friday. The stock has a market cap of $182.16 million, a price-to-earnings ratio of -1.09 and a beta of 0.51. The company has a 50 day simple moving average of $3.82 and a 200 day simple moving average of $4.66. Alector, Inc. has a 1 year low of $1.73 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. On average, equities research analysts anticipate that Alector, Inc. will post -1.85 EPS for the current fiscal year.

Insider Buying and Selling at Alector

In related news, insider Sara Kenkare-Mitra sold 26,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the sale, the insider now directly owns 565,215 shares in the company, valued at $1,424,341.80. This represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following the transaction, the chief executive officer now directly owns 2,507,074 shares in the company, valued at $6,317,826.48. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,161 shares of company stock worth $239,806. 9.10% of the stock is currently owned by insiders.

Alector Company 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.