Jane Street Group LLC Buys 30,180 Shares of Alector, Inc. (NASDAQ:ALEC)

Jane Street Group LLC lifted its holdings in Alector, Inc. (NASDAQ:ALEC) by 24.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 154,942 shares of the company’s stock after purchasing an additional 30,180 shares during the quarter. Jane Street Group LLC owned about 0.16% of Alector worth $722,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider Sara Kenkare-Mitra sold 26,500 shares of the firm’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 sale, the insider now owns 565,215 shares in the company, valued at approximately $1,424,341.80. This trade represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marc Grasso sold 16,489 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 $41,552.28. Following the completion of the transaction, the chief financial officer now directly owns 330,651 shares in the company, valued at $833,240.52. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,161 shares of company stock worth $239,806. Corporate insiders own 9.10% of the company’s stock.

Alector Stock Performance

ALEC opened at $1.89 on Friday. The company has a market cap of $185.09 million, a P/E ratio of -1.11 and a beta of 0.51. Alector, Inc. has a 12 month low of $1.68 and a 12 month high of $8.90. The business’s 50-day moving average price is $3.28 and its 200-day moving average price is $4.49.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share 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 forecast that Alector, Inc. will post -1.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALEC. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $9.00 to $1.00 in a research note on Wednesday, December 4th. HC Wainwright cut their price objective on shares of Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research report on Monday, December 16th. Mizuho downgraded Alector from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. Finally, BTIG Research dropped their target price on shares of Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.75.

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.