Baillie Gifford & Co. lessened its stake in Alector, Inc. (NASDAQ:ALEC - Free Report) by 69.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,835 shares of the company's stock after selling 181,607 shares during the period. Baillie Gifford & Co. owned 0.08% of Alector worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in shares of Alector during the second quarter worth approximately $29,000. Allspring Global Investments Holdings LLC purchased a new position in Alector during the 1st quarter worth $40,000. Lazard Asset Management LLC acquired a new position in Alector in the first quarter valued at $59,000. nVerses Capital LLC purchased a new stake in shares of Alector in the third quarter valued at about $51,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Alector by 65.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company's stock worth $87,000 after buying an additional 7,395 shares during the period. Hedge funds and other institutional investors own 85.83% of the company's stock.
Wall Street Analysts Forecast Growth
ALEC has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and issued a $35.00 price target on shares of Alector in a research report on Thursday, November 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of Alector in a research note on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alector presently has a consensus rating of "Buy" and an average target price of $17.75.
Check Out Our Latest Research Report on Alector
Alector Price Performance
ALEC traded down $0.07 during midday trading on Thursday, reaching $5.06. 138,816 shares of the company's stock were exchanged, compared to its average volume of 620,429. Alector, Inc. has a 1-year low of $3.66 and a 1-year high of $8.90. The stock has a market capitalization of $495.53 million, a PE ratio of -3.01 and a beta of 0.66. The business's 50-day moving average price is $5.11 and its 200 day moving average price is $5.13.
Alector (NASDAQ:ALEC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.10. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The firm had revenue of $15.34 million for the quarter, compared to analysts' expectations of $16.33 million. As a group, analysts expect that Alector, Inc. will post -1.87 EPS for the current fiscal year.
Insider Activity at Alector
In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares of the company's stock, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Marc Grasso sold 7,297 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the sale, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares in the company, valued at $9,509,880.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,722 shares of company stock valued at $232,883. 9.10% of the stock is owned by insiders.
About Alector
(
Free Report)
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.
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