Foresite Capital Management IV LLC acquired a new stake in shares of Alector, Inc. (NASDAQ:ALEC – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,887,200 shares of the company’s stock, valued at approximately $6,064,000. Alector accounts for approximately 2.6% of Foresite Capital Management IV LLC’s investment portfolio, making the stock its 7th largest holding.
A number of other large investors have also bought and sold shares of ALEC. Vanguard Group Inc. lifted its position in shares of Alector by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock valued at $17,863,000 after buying an additional 46,955 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Alector by 76.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock worth $3,390,000 after acquiring an additional 942,228 shares during the period. Geode Capital Management LLC increased its holdings in Alector by 11.5% in the 4th quarter. Geode Capital Management LLC now owns 2,075,220 shares of the company’s stock worth $3,238,000 after acquiring an additional 213,962 shares during the last quarter. State Street Corp raised its stake in Alector by 4.6% in the 4th quarter. State Street Corp now owns 1,814,298 shares of the company’s stock valued at $2,830,000 after acquiring an additional 79,619 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Alector by 62.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,543,650 shares of the company’s stock valued at $2,408,000 after acquiring an additional 594,500 shares during the period. 85.83% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ALEC has been the subject of a number of research reports. Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price objective on shares of Alector in a report on Monday, May 4th. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, BTIG Research raised shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.63.
Alector Stock Down 3.3%
Shares of NASDAQ ALEC opened at $1.48 on Tuesday. The company has a quick ratio of 5.25, a current ratio of 5.25 and a debt-to-equity ratio of 0.80. The company has a market cap of $164.32 million, a P/E ratio of -1.24 and a beta of 0.61. Alector, Inc. has a 52 week low of $1.09 and a 52 week high of $3.40. The business has a 50-day simple moving average of $2.19 and a two-hundred day simple moving average of $1.96.
Alector (NASDAQ:ALEC – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.08. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%.The firm had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $9.67 million. Research analysts anticipate that Alector, Inc. will post -0.86 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Alector news, CEO Arnon Rosenthal sold 87,216 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $171,815.52. Following the sale, the chief executive officer directly owned 2,367,206 shares in the company, valued at $4,663,395.82. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $38,139.20. Following the completion of the transaction, the chief financial officer directly owned 379,900 shares of the company’s stock, valued at approximately $748,403. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 117,580 shares of company stock worth $232,557 in the last ninety days. 8.30% of the stock is currently owned by insiders.
Alector Company Profile
Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.
The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.
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