2,101,068 Shares in Alector, Inc. $ALEC Bought by Spruce Street Capital LP

Spruce Street Capital LP bought a new position in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,101,068 shares of the company's stock, valued at approximately $4,223,147. Alector makes up approximately 0.0% of Spruce Street Capital LP's investment portfolio, making the stock its 27th largest position. Spruce Street Capital LP owned about 1.88% of Alector at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALEC. Merck & Co. Inc. bought a new position in shares of Alector during the second quarter valued at about $7,126,896. Elmind Capital LP bought a new position in Alector during the fourth quarter valued at $1,404,000. Foresite Capital Management IV LLC bought a new position in shares of Alector during the 4th quarter worth $6,064,000. Deutsche Bank AG purchased a new stake in Alector during the 2nd quarter valued at about $2,208,000. Finally, Eversept Partners LP raised its position in Alector by 34.3% during the first quarter. Eversept Partners LP now owns 1,351,106 shares of the company's stock worth $2,905,000 after acquiring an additional 344,943 shares during the period. Institutional investors own 85.83% of the company's stock.

Alector Trading Down 0.8%

Shares of Alector stock traded down $0.02 on Friday, reaching $2.37. The company had a trading volume of 338,148 shares, compared to its average volume of 871,002. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.26 and a quick ratio of 5.26. The firm has a market cap of $264.63 million, a price-to-earnings ratio of -2.15 and a beta of 0.60. The firm's 50-day moving average price is $1.83 and its two-hundred day moving average price is $2.03. Alector, Inc. has a 1 year low of $1.09 and a 1 year high of $3.40.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

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

Alector Profile

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.

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