Alector, Inc. $ALEC Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Alector, Inc. by 23.7% during the first quarter, selling 96,931 shares and retaining 312,145 shares worth $384,000.
• Several institutional investors like Acadian Asset Management and Invesco Ltd. increased their stakes in Alector during the same period, with Acadian raising its position by 39.8%.
• Alector reported a revenue of $7.87 million in its latest quarterly earnings, significantly surpassing the consensus estimate of $2.76 million, while the company had a negative return on equity of 112.06%.

Goldman Sachs Group Inc. lowered its stake in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 23.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 312,145 shares of the company's stock after selling 96,931 shares during the period. Goldman Sachs Group Inc. owned 0.31% of Alector worth $384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in Alector by 39.8% in the first quarter. Acadian Asset Management LLC now owns 1,440,661 shares of the company's stock valued at $1,768,000 after purchasing an additional 410,205 shares during the period. Ieq Capital LLC purchased a new stake in shares of Alector in the 1st quarter valued at $99,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Alector by 12.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,570 shares of the company's stock worth $303,000 after acquiring an additional 17,509 shares in the last quarter. Invesco Ltd. boosted its holdings in Alector by 209.6% during the 1st quarter. Invesco Ltd. now owns 148,576 shares of the company's stock valued at $183,000 after acquiring an additional 100,591 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in Alector by 25.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,334,032 shares of the company's stock valued at $1,641,000 after acquiring an additional 274,341 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ALEC shares. Mizuho upgraded Alector from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $2.50 to $3.50 in a report on Monday, July 28th. BTIG Research restated a "buy" rating and set a $5.00 price target on shares of Alector in a report on Thursday. Finally, Wall Street Zen downgraded Alector from a "hold" rating to a "sell" rating in a report on Friday. Four 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.17.

Alector Stock Up 5.8%

Shares of NASDAQ ALEC opened at $3.10 on Friday. The business has a 50-day moving average price of $2.34 and a 200 day moving average price of $1.66. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.13. The stock has a market cap of $313.75 million, a PE ratio of -2.67 and a beta of 0.99. Alector, Inc. has a 52-week low of $0.87 and a 52-week high of $6.14.

Alector (NASDAQ:ALEC - Get Free Report) last posted 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 firm had revenue of $7.87 million during the quarter, compared to the consensus estimate 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. Equities research analysts forecast that Alector, Inc. will post -1.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Paula Hammond sold 14,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total value of $33,040.00. Following the completion of the transaction, the director directly owned 74,909 shares of the company's stock, valued at $176,785.24. This trade represents a 15.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.70% of the stock is owned by insiders.

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.

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