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.
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.
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