Invesco Ltd. Boosts Stake in Alector, Inc. $ALEC

Key Points

• Invesco Ltd. increased its stake in Alector, Inc. by 209.6% in Q1, owning 148,576 shares valued at approximately $183,000.
• Alector recently reported earnings that beat analysts' expectations, posting a revenue of $7.87 million against an estimate of $2.76 million.
• Alector's stock has faced a decline, recently trading at $2.76, down 8.3%, with a twelve-month range between $0.87 and $6.37.

Invesco Ltd. grew its position in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 209.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 148,576 shares of the company's stock after acquiring an additional 100,591 shares during the period. Invesco Ltd. owned about 0.15% of Alector worth $183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of Alector by 370.7% during the 1st quarter. CWM LLC now owns 33,643 shares of the company's stock worth $41,000 after acquiring an additional 26,495 shares during the period. Cerity Partners LLC purchased a new position in shares of Alector during the 1st quarter worth approximately $51,000. Bank of New York Mellon Corp grew its holdings in shares of Alector by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 249,494 shares of the company's stock worth $307,000 after acquiring an additional 18,765 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 during the period. Finally, Velan Capital Investment Management LP purchased a new position in shares of Alector during the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 85.83% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ALEC. Wall Street Zen downgraded Alector from a "hold" rating to a "sell" rating in a report on Friday. 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 research note on Monday, July 28th. Four equities 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 data from MarketBeat.com, Alector currently has an average rating of "Hold" and a consensus price target of $4.17.

Insider Activity at Alector

In other Alector news, Director Paula Hammond sold 14,000 shares of Alector stock in a transaction 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 sale, the director owned 74,909 shares of the company's stock, valued at approximately $176,785.24. This trade represents a 15.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 20,910 shares of company stock valued at $49,255. 9.70% of the stock is currently owned by company insiders.

Alector Stock Down 8.3%

ALEC stock opened at $2.76 on Tuesday. Alector, Inc. has a twelve month low of $0.87 and a twelve month high of $6.37. 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 firm has a market cap of $279.34 million, a PE ratio of -2.38 and a beta of 0.99. The business has a 50 day moving average of $1.94 and a 200 day moving average of $1.52.

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

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