Vestal Point Capital LP Invests $621,000 in Alector, Inc. $ALEC

Key Points

• Vestal Point Capital LP has acquired 504,540 shares of Alector, Inc. valued at approximately $621,000, representing a 0.50% stake in the company.
• Alector's stock received upgrades from multiple analysts, with target prices increasing, including a raise from Mizuho from $2.50 to $3.50 and from HC Wainwright from $7.00 to $10.00.
• The company reported earnings per share of ($0.30) for the last quarter, exceeding expectations, and had a revenue of $7.87 million, significantly above the forecast of $2.76 million.

Vestal Point Capital LP purchased a new stake in Alector, Inc. (NASDAQ:ALEC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 504,540 shares of the company's stock, valued at approximately $621,000. Vestal Point Capital LP owned about 0.50% of Alector as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Deerfield Management Company L.P. Series C lifted its stake in shares of Alector by 1.1% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,066,962 shares of the company's stock valued at $2,017,000 after purchasing an additional 11,770 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Alector by 4.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,059,691 shares of the company's stock valued at $2,003,000 after buying an additional 42,004 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Alector by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 882,120 shares of the company's stock worth $1,667,000 after acquiring an additional 157,231 shares during the period. Northern Trust Corp boosted its stake in shares of Alector by 5.6% during the 4th quarter. Northern Trust Corp now owns 759,874 shares of the company's stock worth $1,436,000 after acquiring an additional 40,291 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Alector by 8.9% during the 4th quarter. Two Sigma Advisers LP now owns 429,900 shares of the company's stock valued at $813,000 after acquiring an additional 35,000 shares during the period. Hedge funds and other institutional investors own 85.83% of the company's stock.

Insider Activity at Alector

In other Alector news, Director Paula Hammond sold 14,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $2.36, for a total transaction of $33,040.00. Following the completion of the transaction, the director owned 74,909 shares of the company's stock, valued at $176,785.24. This trade represents a 15.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 20,910 shares of company stock valued at $49,255. Corporate insiders own 9.70% of the company's stock.

Alector Price Performance

Shares of ALEC traded up $0.19 during trading hours on Friday, hitting $3.01. 1,658,177 shares of the stock were exchanged, compared to its average volume of 1,712,648. The stock's 50-day moving average price is $1.92 and its two-hundred day moving average price is $1.52. Alector, Inc. has a 12-month low of $0.87 and a 12-month high of $6.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.78 and a current ratio of 3.78. The company has a market cap of $304.64 million, a price-to-earnings ratio of -2.59 and a beta of 0.99.

Alector (NASDAQ:ALEC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.15. The business had revenue of $7.87 million during the quarter, compared to analyst estimates of $2.76 million. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%. Alector has set its FY 2025 guidance at EPS. Research analysts expect that Alector, Inc. will post -1.88 earnings per share for the current year.

Wall Street Analyst Weigh In

ALEC has been the topic of several research analyst reports. HC Wainwright raised their price objective on Alector from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen cut shares of Alector from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Mizuho raised shares of Alector from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $2.50 to $3.50 in a report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.17.

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.