1,117,986 Shares in Alector, Inc. $ALEC Acquired by Spruce Street Capital LP

Spruce Street Capital LP bought a new position in Alector, Inc. (NASDAQ:ALEC) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,117,986 shares of the company’s stock, valued at approximately $1,744,000. Alector comprises about 0.6% of Spruce Street Capital LP’s holdings, making the stock its 24th largest holding.

Other hedge funds have also modified their holdings of the company. Bronte Capital Management Pty Ltd. acquired a new stake in shares of Alector in the fourth quarter worth approximately $30,000. Prudential Financial Inc. acquired a new stake in shares of Alector in the second quarter worth approximately $30,000. Hershey Trust Co. boosted its position in shares of Alector by 100.0% in the fourth quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after acquiring an additional 10,286 shares during the last quarter. Savant Capital LLC acquired a new stake in shares of Alector in the third quarter worth approximately $35,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Alector in the fourth quarter worth approximately $40,000. 85.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction on 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 directly owned 2,367,206 shares of the company’s stock, valued at approximately $4,663,395.82. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $38,139.20. Following the transaction, the chief financial officer directly owned 379,900 shares in the company, valued at approximately $748,403. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 117,580 shares of company stock worth $232,557. Corporate insiders own 8.30% of the company’s stock.

Alector Trading Down 3.3%

NASDAQ ALEC opened at $1.48 on Tuesday. The company’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $1.96. Alector, Inc. has a 52 week low of $1.09 and a 52 week high of $3.40. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 0.80. The stock has a market cap of $164.32 million, a P/E ratio of -1.24 and a beta of 0.61.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research raised shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alector in a research report on Monday, May 4th. Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price target on shares of Alector in a research report on Monday, May 4th. Finally, Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Alector presently has a consensus rating of “Hold” and an average target price of $3.63.

About Alector

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.