JPMorgan Chase & Co. Lowers Stock Position in Alector, Inc. (NASDAQ:ALEC)

JPMorgan Chase & Co. trimmed its stake in Alector, Inc. (NASDAQ:ALEC - Free Report) by 39.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,642,570 shares of the company's stock after selling 1,086,253 shares during the period. JPMorgan Chase & Co. owned approximately 1.68% of Alector worth $3,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its position in Alector by 132.4% in the third quarter. Barclays PLC now owns 176,800 shares of the company's stock worth $824,000 after buying an additional 100,731 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Alector in the 4th quarter worth about $47,000. SG Americas Securities LLC lifted its holdings in shares of Alector by 27.9% in the 4th quarter. SG Americas Securities LLC now owns 39,334 shares of the company's stock worth $74,000 after acquiring an additional 8,581 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Alector by 24.2% during the 3rd quarter. Jane Street Group LLC now owns 154,942 shares of the company's stock worth $722,000 after purchasing an additional 30,180 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Alector by 127.3% during the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock valued at $47,000 after purchasing an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 85.83% of the company's stock.

Alector Price Performance

Shares of NASDAQ:ALEC traded up $0.05 during trading on Wednesday, reaching $1.16. 1,703,567 shares of the company were exchanged, compared to its average volume of 791,740. The business's fifty day simple moving average is $1.33 and its 200-day simple moving average is $2.43. Alector, Inc. has a 12-month low of $0.87 and a 12-month high of $6.78. The firm has a market capitalization of $114.94 million, a PE ratio of -0.68 and a beta of 0.73.

Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.59. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The company had revenue of $54.24 million for the quarter, compared to the consensus estimate of $20.41 million. On average, sell-side analysts anticipate that Alector, Inc. will post -1.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Alector in a research note on Thursday, February 27th. Morgan Stanley restated an "underweight" rating and set a $1.50 price objective (down previously from $3.00) on shares of Alector in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Alector presently has an average rating of "Hold" and a consensus price target of $3.50.

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.