Alector, Inc. (NASDAQ:ALEC) Shares Sold by Cannell & Co.

Cannell & Co. lowered its holdings in Alector, Inc. (NASDAQ:ALEC) by 25.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 66,177 shares of the company’s stock after selling 22,075 shares during the quarter. Cannell & Co.’s holdings in Alector were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALEC. China Universal Asset Management Co. Ltd. raised its stake in shares of Alector by 352.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after buying an additional 7,584 shares during the last quarter. Jasper Ridge Partners L.P. acquired a new position in shares of Alector during the 3rd quarter worth $95,000. Blackstone Inc. raised its stake in shares of Alector by 50.0% during the 3rd quarter. Blackstone Inc. now owns 15,429 shares of the company’s stock worth $100,000 after buying an additional 5,143 shares during the last quarter. Diversified Trust Co raised its stake in shares of Alector by 12.3% during the 4th quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock worth $113,000 after buying an additional 1,541 shares during the last quarter. Finally, Bailard Inc. acquired a new position in shares of Alector during the 3rd quarter worth $119,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Trading Up 3.9 %

Alector stock opened at $5.28 on Thursday. The stock has a 50-day moving average price of $6.00 and a 200 day moving average price of $6.14. Alector, Inc. has a 52 week low of $3.66 and a 52 week high of $9.06.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.31. The firm had revenue of $15.19 million during the quarter, compared to analysts’ expectations of $8.35 million. Alector had a negative return on equity of 77.15% and a negative net margin of 134.34%. As a group, equities research analysts expect that Alector, Inc. will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Alector

In other Alector news, CFO Marc Grasso sold 5,716 shares of Alector stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $39,554.72. Following the completion of the sale, the chief financial officer now owns 144,957 shares in the company, valued at approximately $1,003,102.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alector news, CFO Marc Grasso sold 5,716 shares of Alector stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $39,554.72. Following the completion of the sale, the chief financial officer now owns 144,957 shares in the company, valued at approximately $1,003,102.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Romano sold 6,001 shares of Alector stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $41,526.92. Following the completion of the sale, the insider now owns 196,313 shares of the company’s stock, valued at approximately $1,358,485.96. The disclosure for this sale can be found here. Insiders sold 30,554 shares of company stock worth $211,434 in the last 90 days. 14.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $41.00 price target on shares of Alector in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.