Geode Capital Management LLC Raises Stock Position in Alector Inc (NASDAQ:ALEC)

Geode Capital Management LLC grew its holdings in shares of Alector Inc (NASDAQ:ALEC) by 35.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 553,024 shares of the company’s stock after buying an additional 145,668 shares during the period. Geode Capital Management LLC owned 0.70% of Alector worth $13,344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALEC. Bank of Montreal Can boosted its stake in Alector by 44.0% in the 4th quarter. Bank of Montreal Can now owns 3,826 shares of the company’s stock worth $66,000 after purchasing an additional 1,169 shares in the last quarter. US Bancorp DE boosted its stake in Alector by 460.0% in the 1st quarter. US Bancorp DE now owns 2,800 shares of the company’s stock worth $68,000 after purchasing an additional 2,300 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Alector by 18.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,989 shares of the company’s stock worth $72,000 after purchasing an additional 470 shares during the period. Victory Capital Management Inc. boosted its position in shares of Alector by 43.9% during the 4th quarter. Victory Capital Management Inc. now owns 7,494 shares of the company’s stock valued at $129,000 after acquiring an additional 2,285 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Alector during the 1st quarter valued at approximately $211,000. Institutional investors own 59.48% of the company’s stock.

In other Alector news, major shareholder Orbimed Advisors Llc sold 9,170 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $23.10, for a total transaction of $211,827.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Terrance Mcguire sold 4,377 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was 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. Over the last three months, insiders sold 408,405 shares of company stock valued at $9,774,142. Insiders own 13.90% of the company’s stock.

A number of research firms have weighed in on ALEC. HC Wainwright began coverage on Alector in a research note on Wednesday, June 24th. They issued a “buy” rating and a $41.00 target price on the stock. Citigroup began coverage on Alector in a research note on Thursday, March 5th. They issued a “buy” rating on the stock. Morgan Stanley raised their price target on Alector from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Goldman Sachs Group began coverage on Alector in a report on Tuesday, April 28th. They set a “buy” rating and a $32.00 target price for the company. Finally, Zacks Investment Research cut Alector from a “buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.60.

ALEC stock opened at $23.50 on Wednesday. The business’s fifty day moving average price is $29.94 and its 200 day moving average price is $25.74. The company has a current ratio of 7.75, a quick ratio of 7.75 and a debt-to-equity ratio of 0.10. Alector Inc has a 12-month low of $13.64 and a 12-month high of $35.93. The company has a market capitalization of $1.86 billion, a PE ratio of -12.98 and a beta of 1.01.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.10). Alector had a negative return on equity of 48.29% and a negative net margin of 556.70%. The company had revenue of $7.17 million for the quarter, compared to analysts’ expectations of $10.60 million. Research analysts predict that Alector Inc will post -2.17 EPS for the current fiscal year.

Alector Company Profile

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.

Recommended Story: What are the Different Types of Leveraged Buyouts?

Institutional Ownership by Quarter for Alector (NASDAQ:ALEC)

Receive News & Ratings for Alector Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alector and related companies with MarketBeat.com's FREE daily email newsletter.