Almitas Capital LLC Invests $538,000 in Alector, Inc. (NASDAQ:ALEC)

Almitas Capital LLC acquired a new position in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 284,845 shares of the company's stock, valued at approximately $538,000. Almitas Capital LLC owned about 0.29% of Alector at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. RA Capital Management L.P. bought a new stake in Alector during the 4th quarter worth approximately $18,324,000. JPMorgan Chase & Co. grew its position in Alector by 64.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company's stock worth $12,716,000 after purchasing an additional 1,072,298 shares in the last quarter. 5AM Venture Management LLC purchased a new position in shares of Alector in the 4th quarter worth approximately $1,882,000. Renaissance Technologies LLC increased its position in shares of Alector by 63.0% during the fourth quarter. Renaissance Technologies LLC now owns 915,738 shares of the company's stock valued at $1,731,000 after acquiring an additional 353,988 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its position in Alector by 562.5% in the fourth quarter. Boothbay Fund Management LLC now owns 294,156 shares of the company's stock worth $556,000 after purchasing an additional 249,756 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Alector in a research report on Thursday, February 27th. Morgan Stanley reiterated an "underweight" rating and issued a $1.50 target price (down previously from $3.00) on shares of Alector in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $3.50.

Alector Price Performance

NASDAQ ALEC traded down $0.02 during trading hours on Wednesday, hitting $1.04. The company's stock had a trading volume of 342,782 shares, compared to its average volume of 806,206. The company has a market cap of $103.49 million, a P/E ratio of -0.61 and a beta of 0.76. The company's 50 day simple moving average is $1.21 and its two-hundred day simple moving average is $2.18. Alector, Inc. has a 12 month low of $0.87 and a 12 month high of $6.78.

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

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.