Erste Asset Management GmbH Makes New $93,000 Investment in Alector, Inc. (NASDAQ:ALEC)

Erste Asset Management GmbH acquired a new position in shares of Alector, Inc. (NASDAQ:ALEC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,000 shares of the company’s stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its holdings in Alector by 4.1% during the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after purchasing an additional 2,709 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in Alector by 2.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after purchasing an additional 3,500 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Alector by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock worth $513,000 after purchasing an additional 3,790 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Alector by 7.5% in the second quarter. Los Angeles Capital Management LLC now owns 63,186 shares of the company’s stock valued at $287,000 after acquiring an additional 4,430 shares in the last quarter. Finally, Caxton Associates LP grew its holdings in shares of Alector by 41.3% in the second quarter. Caxton Associates LP now owns 20,282 shares of the company’s stock valued at $92,000 after acquiring an additional 5,933 shares in the last quarter. 85.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALEC has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $9.00 to $1.00 in a report on Wednesday. HC Wainwright reduced their target price on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a report on Friday, November 29th. BTIG Research reduced their target price on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $10.00 to $3.00 in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.17.

Insiders Place Their Bets

In other news, CEO Arnon Rosenthal sold 52,172 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the transaction, the chief executive officer now owns 2,507,074 shares of the company’s stock, valued at approximately $6,317,826.48. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $66,780.00. Following the completion of the transaction, the insider now directly owns 565,215 shares in the company, valued at approximately $1,424,341.80. The trade was a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,161 shares of company stock worth $239,806 over the last 90 days. Corporate insiders own 9.10% of the company’s stock.

Alector Trading Down 13.1 %

Alector stock opened at $2.19 on Thursday. Alector, Inc. has a 12 month low of $2.14 and a 12 month high of $8.90. The business’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $4.92. The company has a market cap of $214.47 million, a price-to-earnings ratio of -1.29 and a beta of 0.51.

Alector (NASDAQ:ALEC) last posted its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.10. The firm 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%. As a group, equities research analysts forecast that Alector, Inc. will post -1.86 earnings per share for the current fiscal year.

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.