Rhumbline Advisers Raises Position in Alector, Inc. (NASDAQ:ALEC)

Rhumbline Advisers raised its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 20.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,924 shares of the company’s stock after buying an additional 18,398 shares during the period. Rhumbline Advisers owned about 0.11% of Alector worth $499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC boosted its holdings in Alector by 24.1% during the 1st quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after acquiring an additional 3,827 shares during the period. American International Group Inc. lifted its position in Alector by 13.0% in the first quarter. American International Group Inc. now owns 35,655 shares of the company’s stock valued at $215,000 after purchasing an additional 4,105 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Alector by 2.3% during the fourth quarter. Rafferty Asset Management LLC now owns 190,911 shares of the company’s stock valued at $1,523,000 after purchasing an additional 4,287 shares during the period. Gladius Capital Management LP purchased a new stake in shares of Alector during the second quarter valued at approximately $29,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Alector in the first quarter worth approximately $40,000. 85.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Alector in a research report on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alector presently has a consensus rating of “Buy” and a consensus price target of $17.75.

Alector Stock Down 5.2 %

NASDAQ:ALEC opened at $4.93 on Thursday. The firm’s fifty day simple moving average is $5.47 and its 200 day simple moving average is $5.34. The stock has a market cap of $479.79 million, a P/E ratio of -3.57 and a beta of 0.68. Alector, Inc. has a twelve month low of $3.66 and a twelve month high of $8.90.

Alector (NASDAQ:ALEC) last announced its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The firm had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.04 million. During the same quarter in the previous year, the firm posted $0.02 EPS. On average, analysts expect that Alector, Inc. will post -1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paula Hammond sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the transaction, the director now owns 60,209 shares in the company, valued at approximately $304,657.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the sale, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paula Hammond sold 10,500 shares of Alector stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.06, for a total transaction of $53,130.00. Following the transaction, the director now directly owns 60,209 shares of the company’s stock, valued at $304,657.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,222 shares of company stock worth $286,013. Company insiders own 9.10% of the company’s stock.

Alector Company Profile

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.