Creative Planning Increases Position in Alector, Inc. (NASDAQ:ALEC)

Creative Planning raised its stake in Alector, Inc. (NASDAQ:ALEC) by 54.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,117 shares of the company’s stock after buying an additional 6,723 shares during the quarter. Creative Planning’s holdings in Alector were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ALEC. Vanguard Group Inc. raised its position in shares of Alector by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after buying an additional 526,037 shares during the period. Deerfield Management Company L.P. Series C boosted its position 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 buying an additional 75,481 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Alector by 16.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 922,799 shares of the company’s stock valued at $5,555,000 after acquiring an additional 128,515 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Alector by 32.8% in the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock valued at $2,681,000 after purchasing an additional 146,015 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in shares of Alector by 61.7% in the second quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after purchasing an additional 135,614 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Price Performance

NASDAQ ALEC opened at $5.55 on Wednesday. The company has a fifty day moving average of $5.10 and a two-hundred day moving average of $5.13. The company has a market capitalization of $543.51 million, a PE ratio of -3.26 and a beta of 0.66. Alector, Inc. has a 1 year low of $3.66 and a 1 year high of $8.90.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) 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 firm had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. On average, research analysts expect that Alector, Inc. will post -1.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALEC has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Alector in a research report on Thursday, November 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Alector currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Transactions at Alector

In other news, CEO Arnon Rosenthal sold 26,499 shares of the 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 completion of the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alector news, CEO Arnon Rosenthal sold 26,499 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 value of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 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 $67,958.88. Following the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,722 shares of company stock worth $232,883 over the last ninety days. 9.10% of the stock is currently owned by company 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.