Intech Investment Management LLC Takes Position in Alector, Inc. (NASDAQ:ALEC)

Intech Investment Management LLC acquired a new position in shares of Alector, Inc. (NASDAQ:ALEC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,286 shares of the company’s stock, valued at approximately $90,000.

Several other hedge funds have also recently added to or reduced their stakes in ALEC. Federated Hermes Inc. lifted its holdings in shares of Alector by 4.1% during the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock valued at $311,000 after purchasing an additional 2,709 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in Alector by 2.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after purchasing an additional 3,500 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Alector by 3.5% in the 2nd 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 period. Los Angeles Capital Management LLC grew its holdings in shares of Alector by 7.5% during the second quarter. Los Angeles Capital Management LLC now owns 63,186 shares of the company’s stock worth $287,000 after buying an additional 4,430 shares in the last quarter. Finally, Caxton Associates LP lifted its stake in Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after acquiring an additional 5,933 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ALEC shares. BTIG Research lowered their target price on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. HC Wainwright reduced their price objective on shares of Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Bank of America cut shares of Alector from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $9.00 to $1.00 in a report on Wednesday, December 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Finally, Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.17.

Alector Price Performance

NASDAQ:ALEC opened at $2.16 on Monday. The firm’s 50 day simple moving average is $4.34 and its 200 day simple moving average is $4.87. The company has a market cap of $211.53 million, a PE ratio of -1.27 and a beta of 0.51. Alector, Inc. has a one year low of $2.00 and a one year high of $8.90.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. The business had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. Equities research analysts expect that Alector, Inc. will post -1.85 EPS for the current year.

Insider Transactions at Alector

In other news, CFO Marc Grasso sold 16,489 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $41,552.28. Following the completion of the sale, the chief financial officer now owns 330,651 shares in the company, valued at $833,240.52. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the transaction, the insider now directly owns 565,215 shares of the company’s stock, valued at approximately $1,424,341.80. This represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,161 shares of company stock valued at $239,806 in the last 90 days. 9.10% of the stock is currently owned by corporate insiders.

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.