Jane Street Group LLC Raises Stock Position in Alector, Inc. (NASDAQ:ALEC)

Jane Street Group LLC raised its stake in Alector, Inc. (NASDAQ:ALEC) by 24.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,942 shares of the company’s stock after acquiring an additional 30,180 shares during the period. Jane Street Group LLC’s holdings in Alector were worth $722,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ALEC. Wellington Management Group LLP purchased a new stake in Alector in the 3rd quarter worth about $639,000. Sphera Funds Management LTD. boosted its position in Alector by 1.6% during the third quarter. Sphera Funds Management LTD. now owns 620,000 shares of the company’s stock valued at $2,889,000 after purchasing an additional 10,000 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Alector in the third quarter valued at approximately $29,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Alector by 18.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,017,687 shares of the company’s stock worth $4,742,000 after acquiring an additional 159,111 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alector during the third quarter valued at $40,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Arnon Rosenthal sold 52,172 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the transaction, the chief executive officer now owns 2,507,074 shares in the company, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sara Kenkare-Mitra sold 26,500 shares of Alector stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $66,780.00. Following the transaction, the insider now owns 565,215 shares of the company’s stock, valued at $1,424,341.80. This represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,161 shares of company stock worth $239,806. Company insiders own 9.10% of the company’s stock.

Analysts Set New Price Targets

ALEC has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. HC Wainwright decreased their price objective on Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research report on Monday, December 16th. Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Finally, BTIG Research dropped their price target on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alector presently has a consensus rating of “Hold” and a consensus target price of $3.75.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $1.89 on Friday. The company’s fifty day moving average price is $3.28 and its 200 day moving average price is $4.49. The firm has a market capitalization of $185.09 million, a P/E ratio of -1.11 and a beta of 0.51. Alector, Inc. has a 12 month low of $1.68 and a 12 month high of $8.90.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.10. The firm had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. On average, sell-side analysts anticipate that Alector, Inc. will post -1.85 EPS for the current year.

Alector 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.