Acadian Asset Management LLC Purchases 146,015 Shares of Alector, Inc. (NASDAQ:ALEC)

Acadian Asset Management LLC lifted its position in Alector, Inc. (NASDAQ:ALEC) by 32.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,662 shares of the company’s stock after acquiring an additional 146,015 shares during the quarter. Acadian Asset Management LLC owned approximately 0.61% of Alector worth $2,681,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in shares of Alector in the 2nd quarter worth $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Alector in the 1st quarter worth $40,000. Lazard Asset Management LLC bought a new position in Alector during the first quarter valued at about $59,000. China Universal Asset Management Co. Ltd. grew its position in Alector by 89.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock valued at $111,000 after buying an additional 8,670 shares during the period. Finally, ProShare Advisors LLC grew its position in Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after buying an additional 3,827 shares during the period. Institutional investors own 85.83% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Marc Grasso sold 7,297 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $35,609.36. Following the sale, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at $638,011.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the sale, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marc Grasso sold 7,297 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the sale, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock worth $286,013 over the last quarter. 9.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALEC. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Alector in a research report on Thursday, June 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Alector Stock Up 7.5 %

Shares of NASDAQ:ALEC opened at $6.03 on Friday. The firm has a market capitalization of $586.84 million, a PE ratio of -4.37 and a beta of 0.68. Alector, Inc. has a twelve month low of $3.66 and a twelve month high of $8.90. The company has a 50-day moving average price of $5.44 and a two-hundred day moving average price of $5.42.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The firm had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.04 million. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. During the same quarter last year, the business earned $0.02 earnings per share. Analysts anticipate that Alector, Inc. will post -1.92 earnings per share for the current fiscal year.

About Alector

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.