Nuveen LLC Invests $170,000 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 purchased a new position in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 138,180 shares of the company's stock, valued at approximately $170,000. Nuveen LLC owned 0.14% of Alector as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALEC. Squarepoint Ops LLC acquired a new position in shares of Alector during the 4th quarter worth $25,000. Tema Etfs LLC acquired a new stake in Alector in the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC grew its stake in Alector by 71.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock valued at $28,000 after acquiring an additional 6,096 shares during the last quarter. CWM LLC grew its stake 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 during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Alector in the 1st quarter valued at about $51,000. 85.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alector 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 sale, the director directly owned 74,909 shares of the company's stock, valued at $176,785.24. This trade represents a 15.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 20,910 shares of company stock worth $49,255. 9.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Alector from a "hold" rating to a "sell" rating in a research note on Friday. Mizuho raised shares of Alector from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $2.50 to $3.50 in a research note on Monday, July 28th. 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's stock. According to data from MarketBeat.com, Alector presently has an average rating of "Hold" and an average target price of $4.17.

Alector Price Performance

Alector stock opened at $3.01 on Friday. Alector, Inc. has a 12-month low of $0.87 and a 12-month high of $6.37. The stock has a market capitalization of $304.64 million, a P/E ratio of -2.59 and a beta of 0.99. The firm's 50-day moving average is $1.92 and its two-hundred day moving average is $1.52. 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 released its quarterly earnings results 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 company 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. Equities analysts predict that Alector, Inc. will post -1.88 earnings per share for the current year.

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.

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