Millennium Management LLC Acquires 23,467 Shares of Alector, Inc. (NASDAQ:ALEC)

Millennium Management LLC increased its stake in shares of Alector, Inc. (NASDAQ:ALEC) by 45.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,685 shares of the company’s stock after buying an additional 23,467 shares during the period. Millennium Management LLC owned 0.08% of Alector worth $141,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Alector by 71.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company’s stock worth $28,000 after acquiring an additional 6,096 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Alector by 127.3% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock valued at $47,000 after purchasing an additional 14,000 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Alector in the fourth quarter valued at approximately $47,000. RPO LLC bought a new position in Alector in the 4th quarter worth approximately $50,000. Finally, Intech Investment Management LLC lifted its holdings in Alector by 83.5% during the 4th quarter. Intech Investment Management LLC now owns 35,382 shares of the company’s stock worth $67,000 after buying an additional 16,096 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Alector Stock Performance

Shares of Alector stock opened at $1.62 on Friday. The firm has a fifty day moving average of $1.20 and a two-hundred day moving average of $1.55. The stock has a market capitalization of $161.99 million, a price-to-earnings ratio of -0.95 and a beta of 0.71. Alector, Inc. has a 52 week low of $0.87 and a 52 week high of $6.78.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 price objective (down from $3.00) on shares of Alector in a research report on Friday, March 7th. HC Wainwright raised their price target on Alector from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Alector presently has a consensus rating of “Hold” and an average price target of $4.00.

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.