Jacobs Levy Equity Management Inc. Buys 274,341 Shares of 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. lifted its holdings in Alector, Inc. (NASDAQ:ALEC - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,334,032 shares of the company's stock after buying an additional 274,341 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.33% of Alector worth $1,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in shares of Alector in the fourth quarter worth approximately $25,000. Tema Etfs LLC purchased a new stake in shares of Alector in the fourth quarter worth approximately $27,000. Tower Research Capital LLC TRC raised its holdings in shares of Alector by 71.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock worth $28,000 after buying an additional 6,096 shares during the period. CWM LLC raised its holdings in shares of Alector by 370.7% in the first quarter. CWM LLC now owns 33,643 shares of the company's stock worth $41,000 after buying an additional 26,495 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of Alector in the first quarter worth approximately $51,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Trading Down 4.2%

NASDAQ:ALEC traded down $0.12 during midday trading on Friday, hitting $2.75. The stock had a trading volume of 6,126,360 shares, compared to its average volume of 1,014,931. Alector, Inc. has a one year low of $0.87 and a one year high of $6.37. The company has a market capitalization of $278.33 million, a price-to-earnings ratio of -2.37 and a beta of 0.99. The stock has a 50-day moving average of $2.05 and a 200 day moving average of $1.56. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.13.

Alector (NASDAQ:ALEC - Get Free Report) last announced 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. The company had revenue of $7.87 million for the quarter, compared to analysts' expectations 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, sell-side analysts forecast that Alector, Inc. will post -1.88 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on ALEC. Mizuho raised Alector from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $2.50 to $3.50 in a research note on Monday, July 28th. Wall Street Zen raised Alector from a "sell" rating to a "hold" rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $4.17.

Insider Transactions at Alector

In other Alector news, Director Paula Hammond sold 14,000 shares of the stock in a transaction on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 20,910 shares of company stock worth $49,255. 9.70% of the stock is currently owned by company 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.