Elmind Capital LP bought a new stake in Alector, Inc. (NASDAQ:ALEC – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 900,000 shares of the company’s stock, valued at approximately $1,809,000. Alector accounts for about 0.0% of Elmind Capital LP’s holdings, making the stock its 29th largest position. Elmind Capital LP owned 0.81% of Alector at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. bought a new position in Alector during the 2nd quarter worth $15,774,000. Vanguard Group Inc. increased its holdings in Alector by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock worth $17,863,000 after buying an additional 46,955 shares in the last quarter. Foresite Capital Management IV LLC purchased a new position in shares of Alector in the fourth quarter valued at about $6,064,000. Merck & Co. Inc. bought a new stake in shares of Alector in the 2nd quarter worth about $7,126,896. Finally, 683 Capital Management LLC raised its position in shares of Alector by 235.0% in the 4th quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock worth $5,226,000 after acquiring an additional 2,350,000 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.
Insider Activity
In related news, CFO Neil Lindsay Berkley sold 19,360 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $38,139.20. Following the completion of the sale, the chief financial officer directly owned 379,900 shares in the company, valued at approximately $748,403. This represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 87,216 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 2,367,206 shares of the company’s stock, valued at approximately $4,663,395.82. The trade was a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,760 shares of company stock worth $227,734 over the last ninety days. 8.30% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Get Our Latest Analysis on ALEC
Alector Price Performance
Shares of ALEC stock traded down $0.06 during trading hours on Friday, hitting $2.33. 438,799 shares of the company’s stock were exchanged, compared to its average volume of 871,247. Alector, Inc. has a 12-month low of $1.09 and a 12-month high of $3.40. The business’s 50 day simple moving average is $1.83 and its 200-day simple moving average is $2.03. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $260.17 million, a PE ratio of -2.12 and a beta of 0.60.
Alector (NASDAQ:ALEC – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The business had revenue of $3.32 million during the quarter, compared to analyst estimates of $1.71 million. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. On average, equities research analysts anticipate that Alector, Inc. will post -0.87 earnings per share for the current year.
Alector 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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