State of Wyoming Buys New Stake in 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) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 196,814 shares of the company's stock, valued at approximately $242,000. State of Wyoming owned about 0.20% of Alector as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in Alector during the 4th quarter valued at $25,000. Tema Etfs LLC purchased a new position in shares of Alector during the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC grew its position in shares of Alector by 71.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock worth $28,000 after buying an additional 6,096 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Alector by 30.3% in the fourth quarter. ProShare Advisors LLC now owns 27,367 shares of the company's stock worth $52,000 after purchasing an additional 6,367 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Alector by 370.7% in the first quarter. CWM LLC now owns 33,643 shares of the company's stock worth $41,000 after acquiring an additional 26,495 shares during the period. 85.83% of the stock is owned by institutional investors.

Alector Stock Down 8.1%

Shares of NASDAQ ALEC traded down $0.25 during midday trading on Monday, reaching $2.77. The company's stock had a trading volume of 834,816 shares, compared to its average volume of 856,227. The stock has a market capitalization of $279.85 million, a price-to-earnings ratio of -2.38 and a beta of 0.99. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.13. Alector, Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $6.37. The stock has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $1.52.

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. The firm had revenue of $7.87 million during the quarter, compared to analyst estimates of $2.76 million. Alector had a negative net margin of 142.10% and a negative return on equity of 112.06%. Alector has set its FY 2025 guidance at EPS. Equities research analysts predict that Alector, Inc. will post -1.88 earnings per share for the current year.

Insider Transactions at Alector

In related news, Director Paula Hammond sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total value of $33,040.00. Following the transaction, the director directly owned 74,909 shares of the company's stock, valued at approximately $176,785.24. The trade was 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. Insiders sold 20,910 shares of company stock valued at $49,255 over the last 90 days. Company insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALEC. Mizuho raised Alector from a "neutral" rating to an "outperform" rating and increased their target price for the company from $2.50 to $3.50 in a research report on Monday, July 28th. Wall Street Zen lowered 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 assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Alector presently has a consensus rating of "Hold" and a consensus price target of $4.17.

Alector Company 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.