Algert Global LLC Takes $198,000 Position in Alector, Inc. (NASDAQ:ALEC)

Algert Global LLC acquired a new stake in shares of Alector, Inc. (NASDAQ:ALEC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 43,512 shares of the company’s stock, valued at approximately $198,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in shares of Alector during the 2nd quarter valued at $29,000. Allspring Global Investments Holdings LLC acquired a new position in Alector during the first quarter worth about $40,000. Lazard Asset Management LLC bought a new stake in Alector in the first quarter worth about $59,000. Caxton Associates LP lifted its holdings in 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 acquiring an additional 5,933 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Alector by 89.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after purchasing an additional 8,670 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Marc Grasso sold 7,297 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 value of $35,609.36. Following the transaction, the chief financial officer now owns 130,740 shares in the company, valued at $638,011.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alector news, CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction on 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 owns 130,740 shares of the company’s stock, valued at $638,011.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paula Hammond sold 10,500 shares of the company’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 directly owns 60,209 shares in the company, valued at $304,657.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is currently owned by company insiders.

Alector Price Performance

Shares of ALEC opened at $4.55 on Friday. The company has a 50-day moving average of $5.12 and a two-hundred day moving average of $5.23. The stock has a market cap of $438.55 million, a price-to-earnings ratio of -3.30 and a beta of 0.68. Alector, Inc. has a one year low of $3.66 and a one year high of $8.90.

Alector (NASDAQ:ALEC) last announced its 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. 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 for the quarter, compared to the consensus estimate of $16.04 million. During the same period in the previous year, the business earned $0.02 EPS. Analysts anticipate that Alector, Inc. will post -1.92 earnings per share for the current year.

Analysts Set New Price Targets

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

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.