Victory Capital Management Inc. Purchases 27,094 Shares of Alector, Inc. (NASDAQ:ALEC)

Victory Capital Management Inc. grew its position in shares of Alector, Inc. (NASDAQ:ALEC) by 21.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,234 shares of the company’s stock after buying an additional 27,094 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Alector worth $709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC grew its stake in shares of Alector by 24.1% in the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after acquiring an additional 3,827 shares in the last quarter. American International Group Inc. grew its position in shares of Alector by 13.0% during the 1st quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after purchasing an additional 4,105 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Alector by 2.3% during the fourth quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock worth $1,523,000 after purchasing an additional 4,287 shares during the period. Gladius Capital Management LP acquired a new stake in shares of Alector in the second quarter valued at approximately $29,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Alector in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Alector in a report on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.67.

Alector Stock Performance

Shares of ALEC opened at $5.75 on Friday. Alector, Inc. has a 52-week low of $3.66 and a 52-week high of $8.90. The firm has a market cap of $554.21 million, a price-to-earnings ratio of -4.17 and a beta of 0.68. The business’s fifty day moving average is $5.51 and its 200-day moving average is $5.37.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. Alector had a negative return on equity of 102.63% and a negative net margin of 290.66%. During the same quarter in the previous year, the business posted $0.02 earnings per share. As a group, research analysts forecast that Alector, Inc. will post -1.92 EPS for the current fiscal year.

Insider Activity at Alector

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares in the company, valued at $9,509,880.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the transaction, the chief executive officer now directly owns 1,948,746 shares in the company, valued at $9,509,880.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc Grasso sold 7,297 shares of the business’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 sale, the chief financial officer now owns 130,740 shares in the company, valued at $638,011.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,222 shares of company stock valued at $286,013. 9.10% of the stock is owned by insiders.

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.