Alector, Inc. (NASDAQ:ALEC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 64.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,728,823 shares of the company's stock after acquiring an additional 1,072,298 shares during the quarter. JPMorgan Chase & Co. owned about 2.79% of Alector worth $12,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC raised its stake in Alector by 73.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 92,218 shares of the company's stock worth $419,000 after acquiring an additional 38,947 shares in the last quarter. Creative Planning increased its stake in Alector by 54.2% in the third quarter. Creative Planning now owns 19,117 shares of the company's stock valued at $89,000 after purchasing an additional 6,723 shares during the period. Barclays PLC increased its stake in Alector by 132.4% in the third quarter. Barclays PLC now owns 176,800 shares of the company's stock valued at $824,000 after purchasing an additional 100,731 shares during the period. Jane Street Group LLC increased its stake in Alector by 24.2% in the third quarter. Jane Street Group LLC now owns 154,942 shares of the company's stock valued at $722,000 after purchasing an additional 30,180 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Alector in the third quarter valued at $90,000. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alector news, insider Sara Kenkare-Mitra sold 26,500 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the sale, the insider now owns 565,215 shares of the company's stock, valued at $1,424,341.80. This represents a 4.48 % decrease in their ownership of the stock. 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 52,172 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares in the company, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their position. 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. Corporate insiders own 9.10% of the company's stock.

Wall Street Analysts Forecast Growth

ALEC has been the topic of a number of recent research reports. Bank of America lowered shares of Alector from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $9.00 to $1.00 in a research note on Wednesday, December 4th. Cantor Fitzgerald restated an "overweight" rating on shares of Alector in a research note on Tuesday, November 26th. Mizuho lowered shares of Alector from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $9.00 to $2.50 in a research note on Tuesday, December 17th. Morgan Stanley lowered shares of Alector from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. Finally, BTIG Research lowered their target price on shares of Alector from $16.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $3.75.

Alector Trading Down 4.3 %

Shares of NASDAQ:ALEC traded down $0.08 during midday trading on Friday, hitting $1.80. The stock had a trading volume of 749,957 shares, compared to its average volume of 826,843. The company has a market capitalization of $176.28 million, a PE ratio of -1.06 and a beta of 0.57. The stock has a 50 day moving average price of $2.91 and a two-hundred day moving average price of $4.39. Alector, Inc. has a 1 year low of $1.68 and a 1 year high of $8.04.

Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping 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 expect that Alector, Inc. will post -1.85 EPS for the current 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.