Invesco Ltd. Increases Stock Position 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. raised its stake in Alector, Inc. (NASDAQ:ALEC - Free Report) by 209.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,576 shares of the company's stock after acquiring an additional 100,591 shares during the quarter. Invesco Ltd. owned about 0.15% of Alector worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its position in Alector by 370.7% in the 1st quarter. CWM LLC now owns 33,643 shares of the company's stock valued at $41,000 after acquiring an additional 26,495 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Alector in the 1st quarter valued at about $51,000. Bank of New York Mellon Corp raised its stake in shares of Alector by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 249,494 shares of the company's stock valued at $307,000 after purchasing an additional 18,765 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alector by 12.2% in 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 valued at $303,000 after purchasing an additional 17,509 shares during the period. Finally, Velan Capital Investment Management LP acquired a new stake in shares of Alector in the 4th quarter valued at about $104,000. Institutional investors and hedge funds own 85.83% of the company's stock.

Alector Price Performance

Shares of NASDAQ ALEC traded down $0.12 during mid-day trading on Friday, reaching $2.75. The company's stock had a trading volume of 6,126,360 shares, compared to its average volume of 1,014,931. Alector, Inc. has a 1-year low of $0.87 and a 1-year high of $6.37. The stock has a market capitalization of $278.33 million, a P/E ratio of -2.37 and a beta of 0.99. The stock has a 50-day moving average of $2.05 and a two-hundred day moving average of $1.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.78 and a current ratio of 3.78.

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

Wall Street Analyst Weigh In

ALEC has been the topic of a number of recent research reports. Mizuho raised Alector from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $2.50 to $3.50 in a research report on Monday, July 28th. Wall Street Zen raised Alector from a "sell" rating to a "hold" rating in a research report on Saturday. 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 company's stock. According to MarketBeat, Alector has a consensus rating of "Hold" and an average price target of $4.17.

Insider Transactions at Alector

In related news, Director Paula Hammond sold 14,000 shares of the firm's 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 sale, the director directly owned 74,909 shares in the company, valued at approximately $176,785.24. This trade represents a 15.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 20,910 shares of company stock worth $49,255 in the last ninety days. 9.70% of the stock is currently owned by company 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.