Hsbc Holdings PLC Boosts Stock Holdings in Alector, Inc. (NASDAQ:ALEC)

Hsbc Holdings PLC lifted its holdings in Alector, Inc. (NASDAQ:ALEC) by 84.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,099 shares of the company’s stock after purchasing an additional 21,571 shares during the period. Hsbc Holdings PLC’s holdings in Alector were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALEC. Massachusetts Financial Services Co. MA grew its stake in Alector by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after purchasing an additional 3,790 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Alector by 4.1% in the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after buying an additional 2,709 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Alector by 32.8% during the 2nd quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock worth $2,681,000 after acquiring an additional 146,015 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Alector by 7.5% during the second quarter. Los Angeles Capital Management LLC now owns 63,186 shares of the company’s stock valued at $287,000 after acquiring an additional 4,430 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Alector by 21.0% in the second quarter. Victory Capital Management Inc. now owns 156,234 shares of the company’s stock valued at $709,000 after acquiring an additional 27,094 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALEC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Alector in a research report on Thursday, June 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.75.

Alector Trading Up 9.5 %

Shares of NASDAQ:ALEC opened at $4.62 on Friday. The company has a market cap of $445.30 million, a PE ratio of -3.35 and a beta of 0.68. Alector, Inc. has a twelve month low of $3.66 and a twelve month high of $8.90. The company’s 50 day moving average is $5.24 and its 200 day moving average is $5.26.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $15.08 million for the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.02 EPS. Equities research analysts predict that Alector, Inc. will post -1.92 earnings per share for the current fiscal year.

Insider Activity at Alector

In other Alector news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the sale, the director now owns 60,209 shares in the company, valued at approximately $304,657.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Alector news, CEO Arnon Rosenthal sold 26,499 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 value of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paula Hammond sold 10,500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.06, for a total transaction of $53,130.00. Following the sale, the director now directly owns 60,209 shares in the company, valued at approximately $304,657.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is owned by corporate 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.