Point72 Asset Management L.P. Sells 529,847 Shares of Alector, Inc. (NASDAQ:ALEC)

Point72 Asset Management L.P. decreased its position in Alector, Inc. (NASDAQ:ALEC - Free Report) by 86.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,538 shares of the company's stock after selling 529,847 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.09% of Alector worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in Alector by 4.1% during the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company's stock valued at $311,000 after purchasing an additional 2,709 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company's stock valued at $589,000 after buying an additional 3,500 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Alector by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company's stock valued at $513,000 after acquiring an additional 3,790 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Alector by 7.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 63,186 shares of the company's stock worth $287,000 after acquiring an additional 4,430 shares during the last quarter. Finally, Caxton Associates LP lifted its position in Alector by 41.3% in the 2nd quarter. Caxton Associates LP now owns 20,282 shares of the company's stock valued at $92,000 after acquiring an additional 5,933 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company's stock.

Alector Trading Down 3.4 %

NASDAQ ALEC traded down $0.07 during trading hours on Friday, hitting $1.97. 1,297,065 shares of the company's stock traded hands, compared to its average volume of 739,679. Alector, Inc. has a 52 week low of $1.92 and a 52 week high of $8.90. The firm has a market capitalization of $192.93 million, a P/E ratio of -1.16 and a beta of 0.51. The business's fifty day moving average price is $4.11 and its two-hundred day moving average price is $4.77.

Alector (NASDAQ:ALEC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share 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. On average, sell-side analysts expect that Alector, Inc. will post -1.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Alector in a report on Tuesday, November 26th. Morgan Stanley cut shares of Alector from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. BTIG Research reduced their price target on shares of Alector from $16.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Bank of America downgraded shares of Alector from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $9.00 to $1.00 in a research report on Wednesday, December 4th. Finally, HC Wainwright cut their target price on shares of Alector from $35.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.20.

Insider Buying and Selling at Alector

In other Alector news, CFO Marc Grasso sold 16,489 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $41,552.28. Following the transaction, the chief financial officer now owns 330,651 shares in the company, valued at $833,240.52. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $66,780.00. Following the transaction, the insider now owns 565,215 shares in the company, valued at $1,424,341.80. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,161 shares of company stock valued at $239,806 in the last 90 days. Insiders own 9.10% of the company's stock.

About Alector

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.