Affinity Asset Advisors LLC Acquires New Shares in Alector, Inc. $ALEC

Affinity Asset Advisors LLC bought a new position in shares of Alector, Inc. (NASDAQ:ALEC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 500,000 shares of the company’s stock, valued at approximately $1,075,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bronte Capital Management Pty Ltd. acquired a new stake in Alector during the 4th quarter worth approximately $30,000. Prudential Financial Inc. acquired a new position in shares of Alector during the second quarter worth $30,000. Hershey Trust Co. lifted its holdings in shares of Alector by 100.0% during the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after purchasing an additional 10,286 shares during the period. Virtu Financial LLC bought a new stake in shares of Alector in the fourth quarter worth $34,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Alector in the fourth quarter valued at $40,000. Institutional investors own 85.83% of the company’s stock.

Insider Buying and Selling at Alector

In other Alector news, CFO Neil Lindsay Berkley sold 19,360 shares of Alector stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $38,139.20. Following the completion of the sale, the chief financial officer directly owned 379,900 shares of the company’s stock, valued at approximately $748,403. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 87,216 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $171,815.52. Following the transaction, the chief executive officer owned 2,367,206 shares in the company, valued at $4,663,395.82. This represents a 3.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 115,760 shares of company stock worth $227,734. 8.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on ALEC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alector in a report on Monday, May 4th. Cantor Fitzgerald upgraded Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price objective on shares of Alector in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Alector currently has a consensus rating of “Hold” and an average target price of $3.62.

Alector Trading Down 0.7%

Shares of ALEC stock opened at $1.48 on Friday. Alector, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.25 and a current ratio of 5.25. The stock has a 50 day simple moving average of $1.80 and a two-hundred day simple moving average of $2.02. The company has a market cap of $164.32 million, a P/E ratio of -1.24 and a beta of 0.60.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. The firm had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $9.67 million. Alector had a negative return on equity of 295.17% and a negative net margin of 680.83%. Research analysts forecast that Alector, Inc. will post -0.86 earnings per share for the current year.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.