ADAR1 Capital Management LLC Sells 60,472 Shares of Alector, Inc. (NASDAQ:ALEC)

ADAR1 Capital Management LLC trimmed its position in Alector, Inc. (NASDAQ:ALEC) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 368,330 shares of the company’s stock after selling 60,472 shares during the period. ADAR1 Capital Management LLC owned 0.38% of Alector worth $696,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ALEC. Intech Investment Management LLC purchased a new position in shares of Alector in the third quarter worth $90,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Alector by 14.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 760,606 shares of the company’s stock worth $3,544,000 after acquiring an additional 94,145 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Alector in the 3rd quarter worth $40,000. Point72 DIFC Ltd purchased a new stake in Alector in the 3rd quarter worth $29,000. Finally, Wellington Management Group LLP bought a new position in shares of Alector during the 3rd quarter valued at about $639,000. 85.83% of the stock is currently owned by institutional investors.

Alector Trading Down 6.4 %

ALEC stock opened at $1.02 on Monday. The firm has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $2.79. Alector, Inc. has a twelve month low of $1.01 and a twelve month high of $6.78. The company has a market capitalization of $101.07 million, a P/E ratio of -0.60 and a beta of 0.73.

Alector (NASDAQ:ALEC) last announced its earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.59. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The business had revenue of $54.24 million during the quarter, compared to analysts’ expectations of $20.41 million. On average, research analysts predict that Alector, Inc. will post -1.88 EPS for the current year.

Wall Street Analyst Weigh In

ALEC has been the topic of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 price target (down from $3.00) on shares of Alector in a report on Friday, March 7th. Mizuho downgraded Alector from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Alector in a research note on Thursday, February 27th. Finally, Stifel Nicolaus cut Alector from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.50.

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.