State of Wyoming Purchases Shares of 196,814 Alector, Inc. $ALEC

Key Points

• The State of Wyoming invested approximately $242,000 in Alector, Inc. by acquiring 196,814 shares, representing around 0.20% of the company.
• Alector's stock saw an increase of 7.7%, with a recent opening price of $2.79 and a market cap of approximately $282.38 million.
• Analysts have provided mixed ratings for Alector, with Mizuho upgrading shares to an "outperform" rating and a consensus price target of $4.17.

State of Wyoming purchased a new stake in Alector, Inc. (NASDAQ:ALEC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 196,814 shares of the company's stock, valued at approximately $242,000. State of Wyoming owned approximately 0.20% of Alector at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALEC. D. E. Shaw & Co. Inc. boosted its stake in shares of Alector by 93.2% in the 4th 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 in the last quarter. Walleye Capital LLC boosted its stake in shares of Alector by 108.3% in the 1st quarter. Walleye Capital LLC now owns 305,601 shares of the company's stock valued at $376,000 after purchasing an additional 158,922 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Alector by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 882,120 shares of the company's stock valued at $1,667,000 after purchasing an additional 157,231 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 145,469 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of 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 purchasing an additional 145,467 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alector

In related news, Director Paula Hammond sold 14,000 shares of the business'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 transaction, the director owned 74,909 shares in the company, valued at $176,785.24. The trade was a 15.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 20,910 shares of company stock valued at $49,255. Insiders own 9.70% of the company's stock.

Alector Trading Up 0.5%

Alector stock traded up $0.01 during mid-day trading on Tuesday, hitting $2.77. 239,013 shares of the stock were exchanged, compared to its average volume of 855,122. 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, Inc. has a 12 month low of $0.87 and a 12 month high of $6.37. The firm's fifty day simple moving average is $1.94 and its two-hundred day simple moving average is $1.52. The stock has a market capitalization of $280.76 million, a price-to-earnings ratio of -2.38 and a beta of 0.99.

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 firm had revenue of $7.87 million during the quarter, compared to analyst estimates of $2.76 million. Alector has set its FY 2025 guidance at EPS. Analysts forecast that Alector, Inc. will post -1.88 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALEC shares. Mizuho upgraded shares of Alector from a "neutral" rating to an "outperform" rating and raised their price target for the company from $2.50 to $3.50 in a research note on Monday, July 28th. Wall Street Zen lowered shares of Alector from a "hold" rating to a "sell" rating in a report on Friday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Alector currently has an average rating of "Hold" and a consensus target price of $4.17.

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.