Gilder Gagnon Howe & Co. LLC decreased its position in Alector Inc (NASDAQ:ALEC) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,557,462 shares of the company’s stock after selling 168,927 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 3.24% of Alector worth $62,504,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ALEC. RA Capital Management L.P. raised its holdings in Alector by 312.7% in the 1st quarter. RA Capital Management L.P. now owns 4,127,348 shares of the company’s stock valued at $99,593,000 after acquiring an additional 3,127,348 shares in the last quarter. BlackRock Inc. raised its holdings in Alector by 43.8% in the 1st quarter. BlackRock Inc. now owns 4,204,886 shares of the company’s stock valued at $101,464,000 after acquiring an additional 1,279,868 shares in the last quarter. FMR LLC acquired a new position in shares of Alector in the 1st quarter worth approximately $20,862,000. Avidity Partners Management LP acquired a new position in shares of Alector in the 1st quarter worth approximately $17,229,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Alector by 199.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 980,707 shares of the company’s stock worth $23,968,000 after buying an additional 653,640 shares in the last quarter. 62.99% of the stock is owned by hedge funds and other institutional investors.
In other Alector news, insider Robert Paul sold 10,000 shares of Alector stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $22.96, for a total value of $229,600.00. Following the sale, the insider now owns 214,097 shares of the company’s stock, valued at approximately $4,915,667.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terrance Mcguire sold 4,377 shares of Alector stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $31.54, for a total value of $138,050.58. The disclosure for this sale can be found here. Insiders sold a total of 24,377 shares of company stock worth $663,751 in the last three months. Company insiders own 13.90% of the company’s stock.
A number of brokerages have recently issued reports on ALEC. TheStreet cut Alector from a “c-” rating to a “d” rating in a report on Friday, July 31st. ValuEngine raised Alector from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. HC Wainwright began coverage on Alector in a report on Wednesday, June 24th. They issued a “buy” rating and a $41.00 target price for the company. Zacks Investment Research cut Alector from a “hold” rating to a “sell” rating in a report on Tuesday, August 25th. Finally, BidaskClub cut Alector from a “sell” rating to a “strong sell” rating in a report on Friday, August 14th. Two analysts have rated the stock with a sell rating and nine have issued a buy rating to the company. Alector presently has an average rating of “Buy” and a consensus price target of $31.67.
ALEC traded down $0.25 during mid-day trading on Friday, reaching $12.41. The stock had a trading volume of 635,200 shares, compared to its average volume of 774,601. The stock has a market capitalization of $983.64 million, a P/E ratio of -6.11 and a beta of 0.41. Alector Inc has a 52 week low of $11.94 and a 52 week high of $35.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.75 and a current ratio of 7.75. The firm’s fifty day simple moving average is $16.13 and its two-hundred day simple moving average is $24.26.
Alector (NASDAQ:ALEC) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.09). Alector had a negative net margin of 775.34% and a negative return on equity of 50.88%. As a group, analysts expect that Alector Inc will post -2.24 EPS for the current fiscal year.
Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.
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