Braidwell LP Cuts Stock Position in Alector, Inc. (NASDAQ:ALEC)

Braidwell LP decreased its stake in shares of Alector, Inc. (NASDAQ:ALEC) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,158,245 shares of the company’s stock after selling 222,459 shares during the quarter. Braidwell LP owned about 2.20% of Alector worth $10,057,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Alector by 1.0% during the third quarter. FMR LLC now owns 14,595,014 shares of the company’s stock valued at $68,013,000 after acquiring an additional 137,794 shares in the last quarter. Valence8 US LP purchased a new stake in Alector during the 3rd quarter valued at about $69,000. Charles Schwab Investment Management Inc. increased its stake in Alector by 14.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 760,606 shares of the company’s stock valued at $3,544,000 after purchasing an additional 94,145 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Alector by 54.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 174,718 shares of the company’s stock worth $814,000 after buying an additional 61,798 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Alector in the third quarter worth approximately $90,000. 85.83% of the stock is owned by institutional investors.

Alector Price Performance

NASDAQ ALEC opened at $2.55 on Friday. The stock has a market capitalization of $249.23 million, a price-to-earnings ratio of -1.50 and a beta of 0.66. Alector, Inc. has a 1-year low of $2.37 and a 1-year high of $8.90. The business’s fifty day moving average price is $4.68 and its 200-day moving average price is $5.00.

Alector (NASDAQ:ALEC) last posted its earnings results 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 return on equity of 108.77% and a negative net margin of 257.54%. Equities research analysts anticipate that Alector, Inc. will post -1.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALEC shares. BTIG Research reduced their price target on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a report on Tuesday. HC Wainwright lowered their price target on Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley downgraded Alector from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $3.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Alector has an average rating of “Moderate Buy” and an average price target of $8.40.

Insider Transactions at Alector

In other news, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the sale, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. This represents a 5.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the completion of the transaction, the chief executive officer now directly owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,722 shares of company stock worth $232,883 in the last quarter. 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.