Renaissance Technologies LLC Reduces Holdings in Alector, Inc. (NASDAQ:ALEC)

Renaissance Technologies LLC trimmed its holdings in shares of Alector, Inc. (NASDAQ:ALEC – Get Rating) by 25.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,583 shares of the company’s stock after selling 246,000 shares during the period. Renaissance Technologies LLC owned about 0.87% of Alector worth $6,817,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Verition Fund Management LLC purchased a new position in shares of Alector during the 3rd quarter worth approximately $999,000. Nuveen Asset Management LLC increased its stake in shares of Alector by 21.2% during the 3rd quarter. Nuveen Asset Management LLC now owns 335,849 shares of the company’s stock worth $3,177,000 after purchasing an additional 58,708 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Alector during the third quarter worth approximately $310,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Alector by 81.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 331,610 shares of the company’s stock worth $3,137,000 after acquiring an additional 148,924 shares during the last quarter. Finally, ExodusPoint Capital Management LP boosted its position in Alector by 617.8% during the third quarter. ExodusPoint Capital Management LP now owns 185,815 shares of the company’s stock worth $1,758,000 after acquiring an additional 159,928 shares during the last quarter. 64.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Arnon Rosenthal sold 5,849 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $8.32, for a total value of $48,663.68. Following the transaction, the chief executive officer now owns 1,628,546 shares of the company’s stock, valued at approximately $13,549,502.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Gary Romano sold 3,238 shares of Alector stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $8.32, for a total transaction of $26,940.16. Following the sale, the insider now owns 104,737 shares of the company’s stock, valued at approximately $871,411.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnon Rosenthal sold 5,849 shares of Alector stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $8.32, for a total transaction of $48,663.68. Following the sale, the chief executive officer now directly owns 1,628,546 shares in the company, valued at approximately $13,549,502.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,378 shares of company stock valued at $86,345. Company insiders own 12.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BTIG Research decreased their target price on shares of Alector from $54.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, March 2nd. Citigroup decreased their target price on shares of Alector from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, March 1st. Morgan Stanley decreased their target price on shares of Alector from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, March 3rd. HC Wainwright restated a “buy” rating and set a $41.00 target price on shares of Alector in a research report on Wednesday, March 1st. Finally, TheStreet lowered shares of Alector from a “c-” rating to a “d” rating in a report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.38.

Alector Trading Down 0.7 %

Shares of ALEC stock opened at $7.16 on Friday. The company’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $9.01. Alector, Inc. has a 52 week low of $6.84 and a 52 week high of $15.72. The company has a market cap of $594.49 million, a PE ratio of -4.45 and a beta of 0.83.

About Alector

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Alector, Inc operates as a clinical-stage biopharmaceutical company, which engages in pioneering of immuno-neurology. It develops portfolio of innate immune system programs, designed to functionally repair genetic mutations and enable the rejuvenated immune cells to counteract emerging brain pathologies.