8,676 Shares in Alector, Inc. (NASDAQ:ALEC) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alector, Inc. (NASDAQ:ALEC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,676 shares of the company’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alector by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after acquiring an additional 526,037 shares during the period. SG Americas Securities LLC purchased a new stake in Alector during the 2nd quarter worth $291,000. Gladius Capital Management LP acquired a new stake in Alector in the 2nd quarter valued at $29,000. Bank of New York Mellon Corp raised its position in Alector by 21.5% in the second quarter. Bank of New York Mellon Corp now owns 279,938 shares of the company’s stock valued at $1,271,000 after purchasing an additional 49,625 shares during the period. Finally, Panagora Asset Management Inc. raised its position in 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 during the period. 85.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALEC shares. Bank of America downgraded Alector from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $9.00 to $1.00 in a research report on Wednesday. Morgan Stanley downgraded shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. HC Wainwright decreased their target price on shares of Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, BTIG Research dropped their price target 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 analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.17.

Insider Transactions at Alector

In related news, CFO Marc Grasso sold 16,489 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $41,552.28. Following the sale, the chief financial officer now directly owns 330,651 shares of the company’s stock, valued at approximately $833,240.52. This represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following the transaction, the chief executive officer now owns 2,507,074 shares in the company, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,161 shares of company stock valued at $239,806. Insiders own 9.10% of the company’s stock.

Alector Trading Down 1.8 %

Alector stock opened at $2.16 on Friday. Alector, Inc. has a 52 week low of $2.00 and a 52 week high of $8.90. The stock has a market cap of $211.53 million, a P/E ratio of -1.27 and a beta of 0.51. The stock has a 50 day moving average of $4.34 and a 200-day moving average of $4.87.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The firm had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, equities analysts predict that Alector, Inc. will post -1.85 earnings per share for the current fiscal year.

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.