JPMorgan Chase & Co. Has $3.10 Million Stake in Alector, Inc. (NASDAQ:ALEC)

JPMorgan Chase & Co. cut its stake in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,642,570 shares of the company's stock after selling 1,086,253 shares during the quarter. JPMorgan Chase & Co. owned 1.68% of Alector worth $3,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Intech Investment Management LLC boosted its position in shares of Alector by 83.5% in the 4th quarter. Intech Investment Management LLC now owns 35,382 shares of the company's stock valued at $67,000 after purchasing an additional 16,096 shares during the period. Los Angeles Capital Management LLC lifted its stake in Alector by 61.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 90,736 shares of the company's stock valued at $171,000 after buying an additional 34,450 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Alector by 127.3% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock worth $47,000 after buying an additional 14,000 shares during the period. Apollon Wealth Management LLC purchased a new position in shares of Alector in the fourth quarter worth approximately $47,000. Finally, SG Americas Securities LLC raised its holdings in shares of Alector by 27.9% during the fourth quarter. SG Americas Securities LLC now owns 39,334 shares of the company's stock valued at $74,000 after acquiring an additional 8,581 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Stock Down 3.4 %

Shares of Alector stock traded down $0.04 on Friday, hitting $1.14. 452,274 shares of the company traded hands, compared to its average volume of 792,135. Alector, Inc. has a 12-month low of $0.87 and a 12-month high of $6.78. The company has a 50-day moving average price of $1.30 and a 200 day moving average price of $2.38. The company has a market cap of $112.96 million, a PE ratio of -0.67 and a beta of 0.73.

Alector (NASDAQ:ALEC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.59. The company had revenue of $54.24 million during the quarter, compared to the consensus estimate of $20.41 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. Equities research analysts anticipate that Alector, Inc. will post -1.88 EPS for the current year.

Wall Street Analyst Weigh In

ALEC has been the topic of several research analyst reports. Morgan Stanley reiterated an "underweight" rating and set a $1.50 price objective (down from $3.00) on shares of Alector in a research report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Alector in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $3.50.

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.