Intech Investment Management LLC Has $67,000 Position in Alector, Inc. (NASDAQ:ALEC)

Intech Investment Management LLC raised its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 83.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,382 shares of the company’s stock after purchasing an additional 16,096 shares during the quarter. Intech Investment Management LLC’s holdings in Alector were worth $67,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in shares of Alector in the third quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Alector in the 3rd quarter valued at about $40,000. Apollon Wealth Management LLC bought a new position in Alector in the 4th quarter valued at about $47,000. Vontobel Holding Ltd. lifted its position in Alector by 127.3% during the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock worth $47,000 after acquiring an additional 14,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Alector by 27.9% in the fourth quarter. SG Americas Securities LLC now owns 39,334 shares of the company’s stock valued at $74,000 after purchasing an additional 8,581 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Stock Down 3.0 %

Shares of Alector stock opened at $1.29 on Friday. Alector, Inc. has a 12-month low of $1.26 and a 12-month high of $6.78. The company has a market capitalization of $127.82 million, a price-to-earnings ratio of -0.76 and a beta of 0.65. The firm’s 50-day moving average price is $1.59 and its two-hundred day moving average price is $2.99.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.59. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The business had revenue of $54.24 million for the quarter, compared to analyst estimates of $20.41 million. On average, sell-side analysts expect that Alector, Inc. will post -1.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ALEC shares. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Alector in a research report on Thursday, February 27th. Mizuho downgraded shares of Alector from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $2.50 in a report on Tuesday, December 17th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $1.50 target price (down from $3.00) on shares of Alector in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.50.

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.