Truist Financial Corp Sells 5,820 Shares of Alector, Inc. (NASDAQ:ALEC)

Truist Financial Corp lessened its position in Alector, Inc. (NASDAQ:ALEC) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,025 shares of the company’s stock after selling 5,820 shares during the quarter. Truist Financial Corp’s holdings in Alector were worth $154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Algert Global LLC purchased a new stake in Alector during the second quarter valued at about $198,000. Susquehanna Fundamental Investments LLC boosted its position in Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock valued at $589,000 after buying an additional 3,500 shares during the period. The Manufacturers Life Insurance Company boosted its position in Alector by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 124,819 shares of the company’s stock valued at $567,000 after buying an additional 6,825 shares during the period. Deerfield Management Company L.P. Series C boosted its holdings in shares of Alector by 7.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock worth $5,213,000 after purchasing an additional 75,481 shares during the period. Finally, Caxton Associates LP boosted its holdings in shares of Alector by 41.3% during the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock worth $92,000 after purchasing an additional 5,933 shares during the period. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Trading Down 3.1 %

Shares of NASDAQ ALEC opened at $4.99 on Friday. 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 $480.96 million, a PE ratio of -3.62 and a beta of 0.68. The firm has a fifty day simple moving average of $5.12 and a two-hundred day simple moving average of $5.18.

Alector (NASDAQ:ALEC) last issued 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 analyst estimates 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 prior year, the business earned $0.02 EPS. On average, sell-side analysts predict that Alector, Inc. will post -1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alector has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Activity at Alector

In other news, CFO Marc Grasso sold 7,297 shares of the firm’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 $35,609.36. Following the sale, the chief financial officer now owns 130,740 shares of the company’s stock, valued at $638,011.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alector news, CFO Marc Grasso sold 7,297 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 transaction of $35,609.36. Following the sale, the chief financial officer now owns 130,740 shares in the company, valued at approximately $638,011.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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.