Fmr LLC Raises Stake in Alector, Inc. (NASDAQ:ALEC)

Fmr LLC increased its position in Alector, Inc. (NASDAQ:ALEC) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,595,014 shares of the company’s stock after buying an additional 137,794 shares during the period. Fmr LLC owned about 14.90% of Alector worth $68,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gladius Capital Management LP acquired a new position in Alector in the 2nd quarter valued at $29,000. nVerses Capital LLC purchased a new stake in shares of Alector in the third quarter valued at $51,000. Valence8 US LP acquired a new position in Alector in the third quarter valued at $69,000. China Universal Asset Management Co. Ltd. lifted its position in Alector by 65.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $87,000 after buying an additional 7,395 shares during the period. Finally, Creative Planning boosted its stake in Alector by 54.2% in the 3rd quarter. Creative Planning now owns 19,117 shares of the company’s stock worth $89,000 after buying an additional 6,723 shares during the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Trading Down 1.8 %

Shares of ALEC stock opened at $2.16 on Friday. The company has a market cap of $211.54 million, a PE ratio of -1.27 and a beta of 0.51. The company’s fifty day simple moving average is $4.34 and its 200-day simple moving average is $4.88. Alector, Inc. has a 52 week low of $2.00 and a 52 week high of $8.90.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Equities research analysts expect that Alector, Inc. will post -1.86 EPS for the current fiscal year.

Insider Activity at Alector

In other news, CEO Arnon Rosenthal sold 52,172 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares in the company, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marc Grasso sold 16,489 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $41,552.28. Following the completion of the transaction, the chief financial officer now owns 330,651 shares in the company, valued at approximately $833,240.52. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,161 shares of company stock worth $239,806. 9.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ALEC shares. HC Wainwright cut their price objective on shares of Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, November 29th. BTIG Research cut their price target on shares of Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $10.00 to $3.00 in a report on Tuesday, November 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Finally, Bank of America cut Alector from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $9.00 to $1.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.17.

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.