Alector, Inc. $ALEC Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Alector, Inc. by 39.8%, acquiring an additional 410,205 shares, bringing its total holdings to approximately 1.44% of the company valued at $1,768,000.
• Alector reported its quarterly earnings with an EPS of ($0.30), surpassing estimates significantly, and generated $7.87 million in revenue, outperforming the consensus estimate of $2.76 million.
• Wall Street analysts have upgraded Alector’s stock ratings, with Mizuho raising its target price from $2.50 to $3.50, while the consensus rating for the stock remains at "Hold" with a target price of $4.17.

Acadian Asset Management LLC increased its stake in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 39.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,440,661 shares of the company's stock after purchasing an additional 410,205 shares during the quarter. Acadian Asset Management LLC owned 1.44% of Alector worth $1,768,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its position in Alector by 30.3% in the 4th quarter. ProShare Advisors LLC now owns 27,367 shares of the company's stock valued at $52,000 after purchasing an additional 6,367 shares during the last quarter. Jane Street Group LLC raised 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 during the last quarter. ADAR1 Capital Management LLC boosted its stake in Alector by 3.3% during the 1st quarter. ADAR1 Capital Management LLC now owns 380,330 shares of the company's stock valued at $468,000 after purchasing an additional 12,000 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Alector during the 4th quarter valued at $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alector by 12.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,570 shares of the company's stock valued at $303,000 after acquiring an additional 17,509 shares during the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALEC has been the topic of several recent research reports. Wall Street Zen upgraded shares of Alector from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Mizuho upgraded shares of Alector from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $2.50 to $3.50 in a research note on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.17.

Alector Stock Performance

NASDAQ ALEC traded down $0.10 during trading hours on Friday, hitting $3.03. The company had a trading volume of 2,304,785 shares, compared to its average volume of 1,179,435. The business has a 50 day moving average of $2.19 and a 200-day moving average of $1.60. Alector, Inc. has a 1-year low of $0.87 and a 1-year 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 $306.67 million, a PE ratio of -2.61 and a beta of 0.99.

Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. The company had revenue of $7.87 million for 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. As a group, equities research analysts expect that Alector, Inc. will post -1.88 EPS for the current year.

Insider Transactions at Alector

In other Alector news, Director Paula Hammond sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $2.36, for a total transaction of $33,040.00. Following the sale, the director directly owned 74,909 shares of the company's stock, valued at $176,785.24. The trade was a 15.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.70% of the stock is owned by corporate insiders.

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.