Truist Financial Corp Sells 5,820 Shares of Alector, Inc. (NASDAQ:ALEC)

Truist Financial Corp cut its position in Alector, Inc. (NASDAQ:ALEC) by 14.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,025 shares of the company’s stock after selling 5,820 shares during the quarter. Truist Financial Corp’s holdings in Alector were worth $154,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ALEC. Algert Global LLC purchased a new stake in shares of Alector during the second quarter worth about $198,000. Susquehanna Fundamental Investments LLC grew its stake in shares of Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after acquiring an additional 3,500 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Alector by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 124,819 shares of the company’s stock worth $567,000 after acquiring an additional 6,825 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Alector by 7.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock worth $5,213,000 after acquiring an additional 75,481 shares during the last quarter. Finally, Caxton Associates LP grew its stake in shares of Alector by 41.3% during the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after acquiring an additional 5,933 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.75.

Alector Price Performance

Shares of ALEC stock opened at $4.99 on Friday. The company has a market cap of $480.96 million, a price-to-earnings ratio of -3.62 and a beta of 0.68. The stock has a 50 day simple moving average of $5.12 and a 200-day simple moving average of $5.18. Alector, Inc. has a 1-year low of $3.66 and a 1-year high of $8.90.

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

Insider Activity at Alector

In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the completion of the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alector news, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the completion of the sale, the insider now owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The trade was 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 valued at $286,013. 9.10% of the stock is owned by insiders.

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.