Cubist Systematic Strategies LLC Purchases 38,947 Shares of Alector, Inc. (NASDAQ:ALEC)

Cubist Systematic Strategies LLC grew its stake in shares of Alector, Inc. (NASDAQ:ALEC) by 73.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,218 shares of the company’s stock after acquiring an additional 38,947 shares during the period. Cubist Systematic Strategies LLC owned about 0.10% of Alector worth $419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in shares of Alector during the second quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC purchased a new position in Alector during the first quarter valued at approximately $40,000. Lazard Asset Management LLC purchased a new position in Alector during the first quarter valued at approximately $59,000. China Universal Asset Management Co. Ltd. increased its holdings in Alector by 89.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after buying an additional 8,670 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after buying an additional 3,827 shares during the period. Institutional investors own 85.83% of the company’s stock.

Alector Trading Up 5.5 %

NASDAQ ALEC opened at $4.80 on Monday. The firm’s fifty day simple moving average is $5.11 and its two-hundred day simple moving average is $5.22. Alector, Inc. has a 12-month low of $3.66 and a 12-month high of $8.90. The firm has a market capitalization of $467.14 million, a P/E ratio of -2.67 and a beta of 0.68.

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

Insiders Place Their Bets

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Arnon Rosenthal sold 26,499 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Kenkare-Mitra sold 13,926 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 transaction of $67,958.88. Following the sale, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,222 shares of company stock worth $286,013. Company insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a report on Tuesday, September 17th. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday, June 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Alector currently has a consensus rating of “Buy” and a consensus target price of $17.75.

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.