Merck & Co. Inc. Takes $7.13 Million Position in Alector, Inc. $ALEC

Merck & Co. Inc. bought a new position in Alector, Inc. (NASDAQ:ALEC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,545,719 shares of the company's stock, valued at approximately $7,126,896. Alector accounts for 0.0% of Merck & Co. Inc.'s investment portfolio, making the stock its 8th largest holding. Merck & Co. Inc. owned about 3.19% of Alector at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Jane Street Group LLC grew its position in shares of Alector by 4.7% during the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company's stock worth $316,000 after buying an additional 11,618 shares during the period. Strs Ohio bought a new stake in shares of Alector in the 1st quarter worth $126,000. Geode Capital Management LLC boosted its position in shares of Alector by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company's stock worth $2,775,000 after purchasing an additional 19,970 shares during the period. Prudential Financial Inc. purchased a new position in shares of Alector in the 2nd quarter worth approximately $30,000. Finally, XTX Topco Ltd raised its stake in Alector by 125.2% in the second quarter. XTX Topco Ltd now owns 73,338 shares of the company's stock worth $103,000 after buying an additional 40,767 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company's stock.

Insider Buying and Selling

In other Alector news, CEO Arnon Rosenthal sold 87,216 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $171,815.52. Following the transaction, the chief executive officer directly owned 2,367,206 shares in the company, valued at approximately $4,663,395.82. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $38,139.20. Following the transaction, the chief financial officer owned 379,900 shares in the company, valued at $748,403. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 115,760 shares of company stock valued at $227,734. Company insiders own 8.30% of the company's stock.

Alector Price Performance

ALEC traded down $0.03 during midday trading on Friday, hitting $2.36. The stock had a trading volume of 273,334 shares, compared to its average volume of 870,614. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26. Alector, Inc. has a 1 year low of $1.09 and a 1 year high of $3.40. The business has a fifty day moving average of $1.83 and a 200 day moving average of $2.03. The company has a market cap of $263.52 million, a P/E ratio of -2.15 and a beta of 0.60.

Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. The firm had revenue of $3.32 million for the quarter, compared to analysts' expectations of $1.71 million. As a group, equities analysts forecast that Alector, Inc. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reissued an "underweight" rating and issued a $2.00 price target on shares of Alector in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Alector from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised shares of Alector from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alector has a consensus rating of "Hold" and a consensus price target of $3.62.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector's approach aims to harness the body's natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer's disease and frontotemporal dementia.

The company's pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer's disease studies.