State Street Corp Has $12.19 Million Holdings in Alector, Inc. (NASDAQ:ALEC)

State Street Corp lowered its position in Alector, Inc. (NASDAQ:ALEC) by 6.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,616,809 shares of the company’s stock after selling 173,068 shares during the period. State Street Corp owned 2.67% of Alector worth $12,194,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in shares of Alector during the 3rd quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alector in the 3rd quarter valued at $40,000. nVerses Capital LLC acquired a new position in shares of Alector during the third quarter valued at about $51,000. Valence8 US LP acquired a new stake in shares of Alector in the 3rd quarter valued at about $69,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Alector by 65.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $87,000 after buying an additional 7,395 shares during the period. 85.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ALEC. Mizuho downgraded Alector from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $2.50 in a report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $10.00 to $3.00 in a report on Tuesday, November 26th. BTIG Research lowered their price objective on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, HC Wainwright lowered their price target on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Alector presently has an average rating of “Hold” and an average price target of $3.75.

Insiders Place Their Bets

In related news, insider Sara Kenkare-Mitra sold 26,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $66,780.00. Following the sale, the insider now owns 565,215 shares of the company’s stock, valued at approximately $1,424,341.80. This represents a 4.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the transaction, the chief executive officer now owns 2,507,074 shares of the company’s stock, valued at approximately $6,317,826.48. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,161 shares of company stock worth $239,806 over the last quarter. 9.10% of the stock is currently owned by company insiders.

Alector Stock Performance

ALEC opened at $1.85 on Thursday. Alector, Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $8.90. The firm has a 50-day moving average of $3.70 and a 200 day moving average of $4.62. The firm has a market cap of $181.18 million, a P/E ratio of -1.09 and a beta of 0.51.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The business had revenue of $15.34 million during the quarter, compared to analyst estimates of $16.33 million. Equities research analysts predict that Alector, Inc. will post -1.85 earnings per share for the current fiscal year.

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.