1,098,388 Shares in Alector, Inc. $ALEC Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 1,098,388 Alector shares worth approximately $2.21 million, giving it a 0.99% stake. Institutional investors and hedge funds collectively own 85.83% of the company.
• Analysts maintain a generally neutral outlook, with Alector receiving a consensus “Hold” rating and an average price target of $3.62 versus its reported $2.39 share price.
• Alector exceeded quarterly expectations, reporting a $0.21 per-share loss compared with the projected $0.23 loss and revenue of $3.32 million versus the $1.71 million estimate, though the company remains deeply unprofitable.

Deutsche Bank AG purchased a new stake in Alector, Inc. (NASDAQ:ALEC - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,098,388 shares of the company's stock, valued at approximately $2,208,000. Deutsche Bank AG owned about 0.99% of Alector as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE grew its position in Alector by 1.8% during the second quarter. Bank of America Corp DE now owns 343,909 shares of the company's stock valued at $481,000 after acquiring an additional 5,927 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Alector by 3.4% in the 3rd quarter. Mackenzie Financial Corp now owns 283,712 shares of the company's stock valued at $840,000 after purchasing an additional 9,270 shares in the last quarter. Hershey Trust Co. grew its holdings in shares of Alector by 100.0% during the 4th quarter. Hershey Trust Co. now owns 20,572 shares of the company's stock worth $32,000 after purchasing an additional 10,286 shares during the period. Jane Street Group LLC increased its position in Alector by 4.7% during the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company's stock worth $316,000 after purchasing an additional 11,618 shares in the last quarter. Finally, Diversified Trust Co increased its position in Alector by 83.6% during the 1st quarter. Diversified Trust Co now owns 25,895 shares of the company's stock worth $56,000 after purchasing an additional 11,793 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Alector from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Morgan Stanley reissued an "underweight" rating and issued a $2.00 price objective on shares of Alector in a research report on Monday, May 4th. Finally, Weiss Ratings raised shares of Alector from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $3.62.

Alector Price Performance

Shares of ALEC stock opened at $2.39 on Friday. The firm has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $2.03. The company has a market capitalization of $266.87 million, a PE ratio of -2.17 and a beta of 0.60. Alector, Inc. has a twelve month low of $1.09 and a twelve month high of $3.40. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.80.

Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.02. The firm had revenue of $3.32 million for the quarter, compared to the consensus estimate of $1.71 million. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. Equities research analysts anticipate that Alector, Inc. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other Alector news, CEO Arnon Rosenthal sold 87,216 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $171,815.52. Following the completion of the sale, the chief executive officer owned 2,367,206 shares in the company, valued at $4,663,395.82. This trade represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Neil Lindsay Berkley sold 19,360 shares of Alector stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $38,139.20. Following the sale, the chief financial officer owned 379,900 shares in the company, valued at $748,403. This represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 115,760 shares of company stock worth $227,734. Insiders own 8.30% of the company's stock.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector's approach aims to harness the body's natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer's disease and frontotemporal dementia.

The company's pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer's disease studies.

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