Victory Capital Management Inc. Increases Position in Alector, Inc. (NASDAQ:ALEC)

Victory Capital Management Inc. boosted its holdings in Alector, Inc. (NASDAQ:ALEC) by 19.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,747 shares of the company’s stock after purchasing an additional 30,513 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of Alector worth $870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in Alector in the second quarter worth about $29,000. Lazard Asset Management LLC purchased a new stake in Alector in the first quarter worth about $59,000. nVerses Capital LLC purchased a new stake in Alector in the third quarter worth about $51,000. China Universal Asset Management Co. Ltd. grew its holdings in Alector by 65.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $87,000 after purchasing an additional 7,395 shares during the period. Finally, Creative Planning grew its holdings in Alector by 54.2% in the third quarter. Creative Planning now owns 19,117 shares of the company’s stock worth $89,000 after purchasing an additional 6,723 shares during the period. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Stock Performance

Shares of Alector stock opened at $2.55 on Thursday. The company’s 50 day moving average is $4.81 and its 200 day moving average is $5.04. Alector, Inc. has a twelve month low of $2.37 and a twelve month high of $8.90.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Equities analysts expect that Alector, Inc. will post -1.87 EPS for the current fiscal year.

Insider Activity at Alector

In related news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the transaction, the chief executive officer now owns 1,948,746 shares in the company, valued at $9,509,880.48. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, the insider now owns 291,715 shares in the company, valued at approximately $1,423,569.20. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,722 shares of company stock worth $232,883 over the last quarter. Company insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

ALEC has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Alector in a report on Thursday, November 7th. BTIG Research cut their price target on shares of Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $10.00 to $3.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.