Alector, Inc. (NASDAQ:ALEC) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its position in Alector, Inc. (NASDAQ:ALECGet Rating) by 99.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,231 shares of the company’s stock after purchasing an additional 3,103 shares during the period. Lazard Asset Management LLC’s holdings in Alector were worth $63,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Alector by 2.9% in the first quarter. Rhumbline Advisers now owns 61,472 shares of the company’s stock valued at $876,000 after buying an additional 1,753 shares during the period. Quantbot Technologies LP acquired a new stake in Alector in the 1st quarter valued at about $25,000. Bank of New York Mellon Corp boosted its position in shares of Alector by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 206,696 shares of the company’s stock valued at $2,945,000 after purchasing an additional 1,983 shares in the last quarter. Quantedge Capital Pte Ltd grew its stake in shares of Alector by 40.9% in the 1st quarter. Quantedge Capital Pte Ltd now owns 16,200 shares of the company’s stock worth $231,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in Alector by 199.1% during the first quarter. Point72 Hong Kong Ltd now owns 9,635 shares of the company’s stock valued at $137,000 after purchasing an additional 6,414 shares during the last quarter. 63.56% of the stock is owned by institutional investors.

Alector Trading Down 1.0 %

Shares of NASDAQ ALEC opened at $7.77 on Friday. Alector, Inc. has a one year low of $6.84 and a one year high of $24.00. The business has a 50-day moving average price of $8.74 and a two-hundred day moving average price of $9.74. The firm has a market capitalization of $642.58 million, a PE ratio of -4.68 and a beta of 0.98.

Alector (NASDAQ:ALECGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.13). Alector had a negative net margin of 102.49% and a negative return on equity of 49.19%. The company had revenue of $14.85 million for the quarter, compared to analysts’ expectations of $52.70 million. Research analysts anticipate that Alector, Inc. will post -1.53 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALEC shares. TheStreet cut Alector from a “c-” rating to a “d” rating in a report on Friday, November 11th. Morgan Stanley downgraded Alector from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $27.00 to $13.00 in a report on Friday, September 9th. Finally, Citigroup dropped their price target on Alector from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.71.

About Alector

(Get Rating)

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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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Institutional Ownership by Quarter for Alector (NASDAQ:ALEC)

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