Jacobs Levy Equity Management Inc. Raises Stock Holdings in Alector, Inc. $ALEC

Key Points

• Jacobs Levy Equity Management Inc. has increased its stake in Alector, Inc. by 25.9%, now holding 1,334,032 shares valued at $1.64 million.
• Alector reported earnings for Q2 with a loss of $0.30 per share, beating estimates, and revenue of $7.87 million, surpassing expectations of $2.76 million.
• Several hedge funds, including BNP Paribas Financial Markets, have significantly increased their positions in Alector, indicating growing institutional interest in the company.

Jacobs Levy Equity Management Inc. grew its position in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,334,032 shares of the company's stock after acquiring an additional 274,341 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.33% of Alector worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of ALEC. Squarepoint Ops LLC purchased a new position in Alector during the 4th quarter worth $25,000. Tema Etfs LLC purchased a new position in Alector during the 4th quarter worth $27,000. Tower Research Capital LLC TRC raised its stake in shares of Alector by 71.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock worth $28,000 after purchasing an additional 6,096 shares during the period. CWM LLC raised its stake 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 purchasing an additional 26,495 shares during the period. Finally, Cerity Partners LLC bought a new stake in shares of Alector during the 1st quarter worth $51,000. 85.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alector

In other news, Director Paula Hammond sold 14,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was 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 in the company, valued at $176,785.24. This represents a 15.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 20,910 shares of company stock worth $49,255 in the last quarter. Corporate insiders own 9.70% of the company's stock.

Alector Price Performance

Shares of ALEC traded down $0.20 during midday trading on Tuesday, hitting $2.76. 580,712 shares of the company traded hands, compared to its average volume of 1,217,422. The stock has a 50-day moving average of $2.11 and a 200-day moving average of $1.57. Alector, Inc. has a one year low of $0.87 and a one year high of $6.37. The firm has a market cap of $279.34 million, a P/E ratio of -2.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.78 and a quick ratio of 3.78.

Alector (NASDAQ:ALEC - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.87 million for the quarter, compared to analysts' expectations of $2.76 million. Alector has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Alector, Inc. will post -1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.