Alector, Inc. (NASDAQ:ALEC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in Alector, Inc. (NASDAQ:ALEC - Free Report) by 88.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,100 shares of the company's stock after selling 629,445 shares during the period. Alliancebernstein L.P. owned 0.08% of Alector worth $155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB lifted its stake in Alector by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 165,713 shares of the company's stock worth $295,000 after acquiring an additional 7,971 shares in the last quarter. SG Americas Securities LLC grew its position in Alector by 27.9% in the 4th quarter. SG Americas Securities LLC now owns 39,334 shares of the company's stock valued at $74,000 after acquiring an additional 8,581 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Alector by 127.3% during the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock worth $47,000 after purchasing an additional 14,000 shares during the period. Intech Investment Management LLC lifted its position in shares of Alector by 83.5% during the fourth quarter. Intech Investment Management LLC now owns 35,382 shares of the company's stock worth $67,000 after purchasing an additional 16,096 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in shares of Alector in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 85.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALEC. HC Wainwright reaffirmed a "buy" rating and set a $7.00 target price on shares of Alector in a research note on Thursday, February 27th. Morgan Stanley reaffirmed an "underweight" rating and set a $1.50 price objective (down previously from $3.00) on shares of Alector in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $3.50.

Alector Stock Performance

Shares of NASDAQ:ALEC traded down $0.04 during trading hours on Friday, reaching $1.14. The stock had a trading volume of 452,274 shares, compared to its average volume of 792,135. The stock has a market capitalization of $112.96 million, a price-to-earnings ratio of -0.67 and a beta of 0.73. The firm's 50 day moving average is $1.31 and its 200-day moving average is $2.40. Alector, Inc. has a 1 year low of $0.87 and a 1 year high of $6.78.

Alector (NASDAQ:ALEC - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.59. The firm had revenue of $54.24 million for the quarter, compared to analyst estimates of $20.41 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. Analysts forecast that Alector, Inc. will post -1.88 EPS for the current year.

Alector 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.