Nuveen LLC Takes Position in Alector, Inc. $ALEC

Key Points

• Nuveen LLC invested approximately $170,000 in Alector, Inc. by purchasing 138,180 shares, representing 0.14% ownership of the company.
• Several institutional investors have recently acquired stakes in Alector, with 85.83% of the stock now owned by such entities.
• Wall Street ratings for Alector show mixed sentiments, including a downgrade to "sell" by Wall Street Zen and a raise to "outperform" by Mizuho, with an average target price of $4.17.

Nuveen LLC bought a new stake in Alector, Inc. (NASDAQ:ALEC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 138,180 shares of the company's stock, valued at approximately $170,000. Nuveen LLC owned about 0.14% of Alector at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. D. E. Shaw & Co. Inc. grew its position in shares of Alector by 93.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 368,977 shares of the company's stock valued at $697,000 after purchasing an additional 177,985 shares during the period. Dimensional Fund Advisors LP boosted its stake in Alector by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 882,120 shares of the company's stock worth $1,667,000 after buying an additional 157,231 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Alector by 723.0% in the 4th quarter. BNP Paribas Financial Markets now owns 165,589 shares of the company's stock valued at $313,000 after buying an additional 145,469 shares during the period. Two Sigma Investments LP grew its holdings in Alector by 55.4% in the 4th quarter. Two Sigma Investments LP now owns 407,989 shares of the company's stock valued at $771,000 after buying an additional 145,467 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Alector by 209.6% during the 1st quarter. Invesco Ltd. now owns 148,576 shares of the company's stock valued at $183,000 after acquiring an additional 100,591 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Alector Trading Up 1.1%

Shares of NASDAQ:ALEC traded up $0.03 during trading on Thursday, reaching $2.87. 436,426 shares of the stock were exchanged, compared to its average volume of 1,115,374. The firm's 50-day moving average price is $2.03 and its 200 day moving average price is $1.55. The firm has a market cap of $290.47 million, a price-to-earnings ratio of -2.47 and a beta of 0.99. Alector, Inc. has a 12-month low of $0.87 and a 12-month high of $6.37. 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 announced its quarterly earnings results 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 net margin of 142.10% and a negative return on equity of 112.06%. 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. On average, sell-side analysts anticipate that Alector, Inc. will post -1.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALEC. Mizuho raised shares of Alector from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $2.50 to $3.50 in a research report on Monday, July 28th. Wall Street Zen downgraded shares of Alector from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.17.

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.