RA Capital Management L.P. Acquires Shares of 9,695,228 Alector, Inc. (NASDAQ:ALEC)

RA Capital Management L.P. purchased a new stake in Alector, Inc. (NASDAQ:ALEC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,695,228 shares of the company's stock, valued at approximately $18,324,000. RA Capital Management L.P. owned 9.90% of Alector at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ALEC. JPMorgan Chase & Co. lifted its holdings in Alector by 64.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company's stock worth $12,716,000 after purchasing an additional 1,072,298 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alector by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,914,250 shares of the company's stock valued at $3,619,000 after purchasing an additional 10,308 shares in the last quarter. Renaissance Technologies LLC grew its position in Alector by 63.0% in the fourth quarter. Renaissance Technologies LLC now owns 915,738 shares of the company's stock valued at $1,731,000 after acquiring an additional 353,988 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Alector by 21.7% during 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 during the last quarter. Finally, Northern Trust Corp grew its position in Alector by 5.6% during the 4th quarter. Northern Trust Corp now owns 759,874 shares of the company's stock worth $1,436,000 after acquiring an additional 40,291 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors.

Alector Stock Down 7.3 %

NASDAQ:ALEC traded down $0.09 during midday trading on Tuesday, hitting $1.08. The company had a trading volume of 413,589 shares, compared to its average volume of 723,517. The stock's fifty day moving average price is $1.22 and its 200-day moving average price is $2.18. Alector, Inc. has a 52-week low of $0.87 and a 52-week high of $6.78. The company has a market capitalization of $107.49 million, a PE ratio of -0.63 and a beta of 0.76.

Alector (NASDAQ:ALEC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.59. The firm had revenue of $54.24 million during the quarter, compared to analyst estimates of $20.41 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. As a group, research analysts forecast that Alector, Inc. will post -1.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALEC has been the topic of a number of recent analyst reports. Morgan Stanley restated an "underweight" rating and set a $1.50 target price (down previously from $3.00) on shares of Alector in a report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Alector in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.50.

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.