Alector, Inc. (NASDAQ:ALEC) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,819 shares of the company’s stock after buying an additional 6,825 shares during the quarter. The Manufacturers Life Insurance Company owned 0.13% of Alector worth $567,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new stake in Alector during the second quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Alector during the 1st quarter worth $40,000. Lazard Asset Management LLC acquired a new position in Alector during the first quarter worth $59,000. China Universal Asset Management Co. Ltd. grew its stake in Alector by 89.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after acquiring an additional 8,670 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Alector by 24.1% during the 1st quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after purchasing an additional 3,827 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Insider Activity at Alector

In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the completion of the sale, the insider now owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Marc Grasso sold 7,297 shares of the company’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 $35,609.36. Following the completion of the sale, the chief financial officer now owns 130,740 shares in the company, valued at approximately $638,011.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction on 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 approximately $1,423,569.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,222 shares of company stock valued at $286,013 over the last ninety days. Insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ALEC. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alector currently has an average rating of “Buy” and an average price target of $17.75.

Alector Price Performance

ALEC stock opened at $5.07 on Wednesday. The firm has a market cap of $488.67 million, a price-to-earnings ratio of -3.67 and a beta of 0.68. Alector, Inc. has a 1-year low of $3.66 and a 1-year high of $8.90. The firm has a fifty day moving average price of $5.11 and a two-hundred day moving average price of $5.20.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The company had revenue of $15.08 million during 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 prior year, the business posted $0.02 earnings per share. As a group, analysts expect that Alector, Inc. will post -1.92 EPS for the current fiscal year.

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.