Principal Financial Group Inc. Sells 26,243 Shares of Alector, Inc. (NASDAQ:ALEC)

Principal Financial Group Inc. trimmed its position in shares of Alector, Inc. (NASDAQ:ALECFree Report) by 53.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,512 shares of the company’s stock after selling 26,243 shares during the period. Principal Financial Group Inc.’s holdings in Alector were worth $136,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Alector during the 1st quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. lifted its stake in Alector by 352.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after acquiring an additional 7,584 shares during the period. E Fund Management Co. Ltd. bought a new stake in Alector in the fourth quarter valued at $81,000. Diversified Trust Co increased its position in Alector by 12.3% during the 4th 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. Finally, SG Americas Securities LLC bought a new position in Alector in the 4th quarter worth $133,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Stock Performance

Shares of NASDAQ ALEC opened at $4.61 on Tuesday. The company has a 50 day simple moving average of $4.87 and a two-hundred day simple moving average of $5.88. Alector, Inc. has a fifty-two week low of $3.66 and a fifty-two week high of $9.06. The company has a market capitalization of $444.36 million, a price-to-earnings ratio of -3.34 and a beta of 0.73.

Alector (NASDAQ:ALECGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The company had revenue of $15.89 million during the quarter, compared to analyst estimates of $14.63 million. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. On average, analysts forecast that Alector, Inc. will post -1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALEC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research note on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Alector in a report on Thursday, June 20th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Check Out Our Latest Report on ALEC

Insider Activity

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

About Alector

(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.

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Institutional Ownership by Quarter for Alector (NASDAQ:ALEC)

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