Barclays PLC Acquires 100,731 Shares of Alector, Inc. (NASDAQ:ALEC)

Barclays PLC raised its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 132.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,800 shares of the company’s stock after acquiring an additional 100,731 shares during the quarter. Barclays PLC’s holdings in Alector were worth $824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in Alector during the third quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alector in the third quarter worth about $40,000. nVerses Capital LLC bought a new stake in shares of Alector in the third quarter worth about $51,000. Valence8 US LP bought a new stake in shares of Alector in the third quarter worth about $69,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Alector by 65.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $87,000 after purchasing an additional 7,395 shares during the last quarter. 85.83% of the stock is owned by institutional investors.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $1.68 on Thursday. Alector, Inc. has a 1 year low of $1.61 and a 1 year high of $7.78. The business has a 50 day simple moving average of $2.70 and a two-hundred day simple moving average of $4.33. The firm has a market capitalization of $164.53 million, a PE ratio of -0.99 and a beta of 0.57.

Alector (NASDAQ:ALEC) last announced its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (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 business had revenue of $15.34 million during the quarter, compared to analyst estimates of $16.33 million. Equities research analysts expect that Alector, Inc. will post -1.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALEC has been the topic of several research reports. Stifel Nicolaus cut Alector from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a report on Monday, December 16th. HC Wainwright reduced their target price on Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Mizuho cut Alector from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $2.50 in a report on Tuesday, December 17th. BTIG Research reduced their price objective on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alector has an average rating of “Hold” and an average price target of $3.75.

Insider Buying and Selling at Alector

In related news, CFO Marc Grasso sold 16,489 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 330,651 shares in the company, valued at approximately $833,240.52. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the sale, the chief executive officer now owns 2,507,074 shares of the company’s stock, valued at $6,317,826.48. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,161 shares of company stock worth $239,806 over the last 90 days. Company insiders own 9.10% of the company’s stock.

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.