Federated Hermes Inc. Sells 91,133 Shares of Alector, Inc. (NASDAQ:ALEC)

Federated Hermes Inc. decreased its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 58.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,523 shares of the company’s stock after selling 91,133 shares during the period. Federated Hermes Inc.’s holdings in Alector were worth $515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALEC. China Universal Asset Management Co. Ltd. boosted its holdings in Alector by 352.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock valued at $78,000 after acquiring an additional 7,584 shares during the period. Jasper Ridge Partners L.P. bought a new position in shares of Alector in the third quarter worth about $95,000. Blackstone Inc. grew its holdings in shares of Alector by 50.0% in the third quarter. Blackstone Inc. now owns 15,429 shares of the company’s stock worth $100,000 after purchasing an additional 5,143 shares during the last quarter. Diversified Trust Co increased its stake in Alector by 12.3% in the 4th quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock worth $113,000 after buying an additional 1,541 shares during the period. Finally, Bailard Inc. bought a new stake in Alector during the 3rd quarter valued at about $119,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $41.00 target price on shares of Alector in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Alector has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Alector Price Performance

NASDAQ:ALEC opened at $5.39 on Friday. Alector, Inc. has a 1-year low of $3.66 and a 1-year high of $9.06. The company has a 50-day moving average of $5.96 and a 200 day moving average of $6.13. The firm has a market cap of $519.54 million, a PE ratio of -3.48 and a beta of 0.82.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.31. Alector had a negative return on equity of 77.15% and a negative net margin of 134.34%. The firm had revenue of $15.19 million during the quarter, compared to analyst estimates of $8.35 million. Sell-side analysts anticipate that Alector, Inc. will post -1.89 EPS for the current fiscal year.

Insider Activity at Alector

In related news, CEO Arnon Rosenthal sold 18,837 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $130,352.04. Following the completion of the transaction, the chief executive officer now directly owns 2,000,380 shares of the company’s stock, valued at approximately $13,842,629.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alector news, insider Gary Romano sold 6,001 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total transaction of $41,526.92. Following the completion of the transaction, the insider now directly owns 196,313 shares of the company’s stock, valued at approximately $1,358,485.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arnon Rosenthal sold 18,837 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $130,352.04. Following the transaction, the chief executive officer now directly owns 2,000,380 shares of the company’s stock, valued at approximately $13,842,629.60. The disclosure for this sale can be found here. Insiders have sold 30,554 shares of company stock valued at $211,434 in the last ninety days. Corporate insiders own 14.00% 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.