Walleye Capital LLC Buys 158,922 Shares of Alector, Inc. $ALEC

Key Points

• Walleye Capital LLC increased its stake in Alector, Inc. by 108.3%, acquiring an additional 158,922 shares and owning a total of 305,601 shares valued at approximately $376,000.
• Alector reported a revenue of $7.87 million for the last quarter, surpassing analysts' expectations and presenting a negative EPS of ($0.30).
• Analyst ratings for Alector vary, with four analysts issuing a Buy rating, while one gave a Hold rating and two issued a Sell rating, leading to an average target price of $4.17.

Walleye Capital LLC lifted its stake in Alector, Inc. (NASDAQ:ALEC - Free Report) by 108.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 305,601 shares of the company's stock after acquiring an additional 158,922 shares during the period. Walleye Capital LLC owned 0.31% of Alector worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ALEC. Wells Fargo & Company MN raised its stake in shares of Alector by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 37,966 shares of the company's stock valued at $72,000 after acquiring an additional 12,653 shares in the last quarter. Invesco Ltd. grew its holdings in Alector by 27.7% in the 4th quarter. Invesco Ltd. now owns 47,985 shares of the company's stock valued at $91,000 after buying an additional 10,405 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 buying an additional 157,231 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings 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 buying an additional 6,096 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Alector by 26.1% in the 4th quarter. Hsbc Holdings PLC now owns 57,983 shares of the company's stock valued at $109,000 after buying an additional 12,004 shares during the last quarter. 85.83% of the stock is owned by institutional investors.

Alector Price Performance

Shares of ALEC stock opened at $2.59 on Wednesday. The stock has a 50 day moving average of $1.83 and a two-hundred day moving average of $1.50. 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 12 month low of $0.87 and a 12 month high of $6.37. The company has a market capitalization of $262.13 million, a P/E ratio of -2.23 and a beta of 0.99.

Alector (NASDAQ:ALEC - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.15. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%.The company had revenue of $7.87 million during the quarter, compared to the consensus estimate of $2.76 million. Alector has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Alector, Inc. will post -1.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ALEC shares. Wall Street Zen raised Alector from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. HC Wainwright raised their target price on Alector from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Mizuho raised Alector from a "neutral" rating to an "outperform" rating and raised their target price for the company from $2.50 to $3.50 in a report on Monday, July 28th. Four research 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. According to MarketBeat, Alector presently has a consensus rating of "Hold" and an average target price of $4.17.

Insider Activity at Alector

In related news, Director Paula Hammond sold 14,000 shares of the firm'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 transaction of $33,040.00. Following the completion of the transaction, the director owned 74,909 shares in the company, valued at $176,785.24. This trade represents a 15.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is owned by company insiders.

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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