Putnam Investments LLC Trims Stake in Alector, Inc. (NASDAQ:ALEC)

Putnam Investments LLC lowered its position in Alector, Inc. (NASDAQ:ALEC – Get Rating) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,986 shares of the company’s stock after selling 1,937 shares during the quarter. Putnam Investments LLC owned about 0.13% of Alector worth $1,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Alector in the first quarter valued at $25,000. Great West Life Assurance Co. Can purchased a new stake in shares of Alector in the third quarter valued at $27,000. Lazard Asset Management LLC raised its stake in shares of Alector by 99.2% in the second quarter. Lazard Asset Management LLC now owns 6,231 shares of the company’s stock valued at $63,000 after acquiring an additional 3,103 shares during the period. Point72 Hong Kong Ltd purchased a new position in Alector in the 3rd quarter worth about $65,000. Finally, Texas Yale Capital Corp. purchased a new position in Alector in the 3rd quarter worth about $95,000. Hedge funds and other institutional investors own 64.96% of the company’s stock.

Analysts Set New Price Targets

ALEC has been the topic of several recent analyst reports. Citigroup reduced their price target on shares of Alector from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, March 1st. Bank of America downgraded shares of Alector from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $12.00 in a research note on Friday, January 6th. BTIG Research reduced their price target on shares of Alector from $54.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, March 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price target on shares of Alector in a research note on Wednesday, March 1st. Finally, Morgan Stanley cut 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Alector presently has a consensus rating of “Hold” and an average price target of $15.38.

Alector Stock Performance

NASDAQ:ALEC opened at $6.67 on Tuesday. Alector, Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $15.72. The stock has a market capitalization of $553.81 million, a P/E ratio of -4.14 and a beta of 0.83. The company’s 50-day simple moving average is $8.71 and its 200-day simple moving average is $8.90.

Insider Activity

In other news, insider Gary Romano sold 3,238 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $8.32, for a total value of $26,940.16. Following the sale, the insider now directly owns 104,737 shares in the company, valued at approximately $871,411.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Arnon Rosenthal sold 5,849 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $8.32, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Romano sold 3,238 shares of Alector stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $8.32, for a total transaction of $26,940.16. Following the completion of the sale, the insider now owns 104,737 shares of the company’s stock, valued at $871,411.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,378 shares of company stock worth $86,345. Corporate insiders own 12.89% of the company’s stock.

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.