Eversept Partners LP decreased its holdings in Alector, Inc. (NASDAQ:ALEC – Free Report) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,006,163 shares of the company’s stock after selling 482,562 shares during the quarter. Eversept Partners LP’s holdings in Alector were worth $1,570,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALEC. Bank of America Corp DE raised its position in shares of Alector by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock worth $481,000 after acquiring an additional 5,927 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Alector by 3.4% during the third quarter. Mackenzie Financial Corp now owns 283,712 shares of the company’s stock valued at $840,000 after purchasing an additional 9,270 shares in the last quarter. Hershey Trust Co. lifted its holdings in shares of Alector by 100.0% during the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock valued at $32,000 after purchasing an additional 10,286 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Alector by 4.7% during the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after purchasing an additional 11,618 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in shares of Alector during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.
Alector Stock Up 1.3%
ALEC stock opened at $1.56 on Thursday. Alector, Inc. has a 1-year low of $1.09 and a 1-year high of $3.40. The business has a fifty day moving average price of $2.16 and a 200-day moving average price of $1.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.25 and a quick ratio of 5.25. The stock has a market capitalization of $173.21 million, a P/E ratio of -1.31 and a beta of 0.61.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on ALEC. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. BTIG Research upgraded Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Tuesday, March 10th. Finally, Morgan Stanley restated an “underweight” rating and issued a $2.00 price target on shares of Alector in a research note on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.63.
Get Our Latest Stock Analysis on ALEC
Insider Buying and Selling
In related news, CFO Neil Lindsay Berkley sold 19,360 shares of the firm’s 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 $38,139.20. Following the transaction, the chief financial officer owned 379,900 shares of the company’s stock, valued at approximately $748,403. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arnon Rosenthal sold 87,216 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $171,815.52. Following the completion of the transaction, the chief executive officer directly owned 2,367,206 shares in the company, valued at approximately $4,663,395.82. The trade was a 3.55% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 117,580 shares of company stock valued at $232,557. 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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