TD Asset Management Inc Has $912,000 Stake in Alector, Inc. $ALEC

Key Points

• TD Asset Management Inc. increased its stake in Alector, Inc. by 483.3% in Q2, owning 651,738 shares valued at $912,000.
• A number of institutional investors have recently altered their holdings in Alector, with 85.83% of the stock now owned by institutional investors.
• Recent analyst ratings show a majority of cuts in ratings for Alector, with one "Buy," seven "Hold," and three "Sell" ratings, indicating a shift in market sentiment.

TD Asset Management Inc boosted its stake in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 483.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 651,738 shares of the company's stock after purchasing an additional 540,000 shares during the quarter. TD Asset Management Inc owned about 0.65% of Alector worth $912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALEC. CWM LLC boosted its position in Alector by 370.7% during the first quarter. CWM LLC now owns 33,643 shares of the company's stock worth $41,000 after purchasing an additional 26,495 shares during the period. Cerity Partners LLC bought a new position in Alector during the first quarter worth $51,000. Vontobel Holding Ltd. boosted its position in Alector by 26.7% during the second quarter. Vontobel Holding Ltd. now owns 38,000 shares of the company's stock worth $53,000 after purchasing an additional 8,000 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Alector by 49.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 52,095 shares of the company's stock worth $73,000 after purchasing an additional 17,170 shares during the period. Finally, Ieq Capital LLC bought a new position in Alector during the first quarter worth $99,000. 85.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ALEC. BTIG Research cut shares of Alector from a "buy" rating to a "neutral" rating in a research report on Wednesday. William Blair cut shares of Alector from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Wall Street Zen cut shares of Alector from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Cantor Fitzgerald cut shares of Alector from an "overweight" rating to a "neutral" rating in a research report on Wednesday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Alector in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $3.00.

Insider Buying and Selling

In related news, Director Paula Hammond sold 14,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total value of $33,040.00. Following the completion of the transaction, the director owned 74,909 shares of the company's stock, valued at $176,785.24. The trade was a 15.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.70% of the stock is currently owned by company insiders.

Alector Trading Down 49.8%

Shares of Alector stock opened at $1.61 on Thursday. The firm has a 50-day moving average of $2.81 and a 200-day moving average of $1.88. The stock has a market cap of $162.95 million, a PE ratio of -1.39 and a beta of 0.99. Alector, Inc. has a 52-week low of $0.87 and a 52-week high of $6.14. 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 posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.15. The business had revenue of $7.87 million during the quarter, compared to the consensus estimate of $2.76 million. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%. Alector has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Alector, Inc. will post -1.88 EPS for the current year.

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.

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