Deutsche Bank AG Invests $2.21 Million in Alector, Inc. $ALEC

Deutsche Bank AG purchased a new position in shares of Alector, Inc. (NASDAQ:ALEC) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,098,388 shares of the company’s stock, valued at approximately $2,208,000.

A number of other hedge funds have also bought and sold shares of the company. Bronte Capital Management Pty Ltd. bought a new stake in Alector in the fourth quarter valued at about $30,000. Prudential Financial Inc. bought a new position in Alector during the 2nd quarter worth approximately $30,000. Hershey Trust Co. lifted its holdings in Alector by 100.0% during the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company’s stock worth $32,000 after buying an additional 10,286 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Alector in the 4th quarter worth approximately $34,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Alector in the 4th quarter worth approximately $40,000. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Alector from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price objective on shares of Alector in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Alector has an average rating of “Hold” and a consensus target price of $3.62.

Alector Stock Down 2.8%

ALEC stock opened at $2.39 on Friday. The stock has a market cap of $266.87 million, a PE ratio of -2.17 and a beta of 0.60. The firm’s 50-day simple moving average is $1.83 and its 200 day simple moving average is $2.03. Alector, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $3.40. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.80.

Alector (NASDAQ:ALEC) last posted its earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. The firm had revenue of $3.32 million during the quarter, compared to analyst estimates of $1.71 million. As a group, sell-side analysts predict that Alector, Inc. will post -0.87 EPS for the current year.

Insider Buying and Selling

In other news, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $171,815.52. Following the completion of the transaction, the chief executive officer directly owned 2,367,206 shares in the company, valued at approximately $4,663,395.82. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $38,139.20. Following the transaction, the chief financial officer owned 379,900 shares of the company’s stock, valued at $748,403. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 115,760 shares of company stock worth $227,734. Corporate insiders own 8.30% of the company’s stock.

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.