Principal Financial Group Inc. Boosts Stock Holdings in Alector, Inc. (NASDAQ:ALEC)

Principal Financial Group Inc. raised its holdings in Alector, Inc. (NASDAQ:ALECFree Report) by 17.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,755 shares of the company’s stock after purchasing an additional 7,262 shares during the quarter. Principal Financial Group Inc. owned 0.05% of Alector worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Alector by 352.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock valued at $78,000 after buying an additional 7,584 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Alector during the 4th quarter worth $81,000. Jasper Ridge Partners L.P. acquired a new position in shares of Alector during the 3rd quarter worth $95,000. Blackstone Inc. increased its holdings in shares of Alector by 50.0% in the 3rd quarter. Blackstone Inc. now owns 15,429 shares of the company’s stock valued at $100,000 after purchasing an additional 5,143 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Alector by 12.3% in the fourth quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock valued at $113,000 after purchasing an additional 1,541 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Stock Performance

Shares of NASDAQ:ALEC opened at $4.77 on Wednesday. Alector, Inc. has a one year low of $3.66 and a one year high of $9.06. The stock has a market cap of $459.78 million, a PE ratio of -3.46 and a beta of 0.77. The business’s fifty day moving average price is $5.41 and its two-hundred day moving average price is $6.17.

Alector (NASDAQ:ALECGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. The business had revenue of $15.89 million for the quarter, compared to analyst estimates of $14.63 million. As a group, equities research analysts predict that Alector, Inc. will post -1.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALEC. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Thursday, May 9th. HC Wainwright reduced their price objective on Alector from $41.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Alector currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

View Our Latest Analysis on Alector

Insider Transactions at Alector

In related news, CEO Arnon Rosenthal sold 25,135 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the transaction, the chief executive officer now owns 1,975,245 shares of the company’s stock, valued at $9,481,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Marc Grasso sold 6,920 shares of Alector stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $33,216.00. Following the completion of the sale, the chief financial officer now owns 138,037 shares of the company’s stock, valued at $662,577.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 25,135 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $120,648.00. Following the transaction, the chief executive officer now owns 1,975,245 shares in the company, valued at $9,481,176. The disclosure for this sale can be found here. Insiders sold a total of 40,095 shares of company stock worth $192,456 over the last ninety days. 9.10% of the stock is currently owned by corporate insiders.

Alector Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ALEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alector, Inc. (NASDAQ:ALECFree Report).

Institutional Ownership by Quarter for Alector (NASDAQ:ALEC)

Receive News & Ratings for Alector Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alector and related companies with MarketBeat.com's FREE daily email newsletter.