Braidwell LP Has $10.06 Million Stock Position in Alector, Inc. (NASDAQ:ALEC)

Braidwell LP decreased its holdings in Alector, Inc. (NASDAQ:ALEC - Free Report) by 9.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,158,245 shares of the company's stock after selling 222,459 shares during the period. Braidwell LP owned approximately 2.20% of Alector worth $10,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of Alector by 9.9% during the first quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company's stock valued at $472,000 after acquiring an additional 7,066 shares during the period. Vanguard Group Inc. grew its stake in Alector by 12.0% in the first quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company's stock valued at $29,574,000 after purchasing an additional 526,037 shares in the last quarter. American International Group Inc. grew its position in Alector by 13.0% in the first quarter. American International Group Inc. now owns 35,655 shares of the company's stock worth $215,000 after acquiring an additional 4,105 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Alector during the 1st quarter worth $59,000. Finally, SG Americas Securities LLC bought a new stake in Alector in the second quarter worth $291,000. Hedge funds and other institutional investors own 85.83% of the company's stock.

Wall Street Analyst Weigh In

ALEC has been the subject of a number of recent analyst reports. Morgan Stanley cut Alector from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $10.00 to $3.00 in a research report on Tuesday. HC Wainwright decreased their price target on shares of Alector from $35.00 to $7.00 and set a "buy" rating for the company in a report on Friday. BTIG Research lowered their target price on Alector from $16.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Alector in a research report on Tuesday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Alector has a consensus rating of "Moderate Buy" and an average price target of $8.40.

Insiders Place Their Bets

In other news, CEO Arnon Rosenthal sold 26,499 shares of the business's 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 sale, the chief executive officer now owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. The trade was a 1.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $67,958.88. Following the sale, the insider now owns 291,715 shares of the company's stock, valued at $1,423,569.20. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,722 shares of company stock worth $232,883 over the last quarter. Company insiders own 9.10% of the company's stock.

Alector Stock Performance

Shares of NASDAQ:ALEC traded up $0.04 during trading on Friday, hitting $2.59. 2,735,959 shares of the stock were exchanged, compared to its average volume of 687,956. The company has a market capitalization of $253.64 million, a price-to-earnings ratio of -1.52 and a beta of 0.66. Alector, Inc. has a 1-year low of $2.37 and a 1-year high of $8.90. The company's fifty day simple moving average is $4.62 and its 200-day simple moving average is $4.99.

Alector (NASDAQ:ALEC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The company had revenue of $15.34 million during the quarter, compared to analysts' expectations of $16.33 million. On average, research analysts forecast that Alector, Inc. will post -1.86 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.