Renaissance Technologies LLC boosted its stake in Alector, Inc. (NASDAQ:ALEC - Free Report) by 63.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 915,738 shares of the company's stock after buying an additional 353,988 shares during the quarter. Renaissance Technologies LLC owned approximately 0.94% of Alector worth $1,731,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Nordea Investment Management AB raised its holdings in shares of Alector by 5.1% in the fourth quarter. Nordea Investment Management AB now owns 165,713 shares of the company's stock valued at $295,000 after purchasing an additional 7,971 shares during the last quarter. SG Americas Securities LLC increased its stake in Alector by 27.9% in the 4th quarter. SG Americas Securities LLC now owns 39,334 shares of the company's stock valued at $74,000 after buying an additional 8,581 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Alector by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,914,250 shares of the company's stock worth $3,619,000 after buying an additional 10,308 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Alector by 27.7% in the fourth quarter. Invesco Ltd. now owns 47,985 shares of the company's stock valued at $91,000 after acquiring an additional 10,405 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Alector by 50.0% during the fourth 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 during the last quarter. 85.83% of the stock is currently owned by institutional investors.
Alector Stock Up 6.1 %
ALEC traded up $0.08 during trading on Friday, reaching $1.30. 573,251 shares of the company were exchanged, compared to its average volume of 799,598. The company has a market cap of $128.32 million, a price-to-earnings ratio of -0.76 and a beta of 0.73. Alector, Inc. has a 12-month low of $0.87 and a 12-month high of $6.78. The company's 50-day moving average is $1.24 and its two-hundred day moving average is $2.28.
Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.59. The firm had revenue of $54.24 million for the quarter, compared to analysts' expectations of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Equities analysts forecast that Alector, Inc. will post -1.88 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. HC Wainwright restated a "buy" rating and issued a $7.00 price objective on shares of Alector in a research note on Thursday, February 27th. Morgan Stanley reissued an "underweight" rating and issued a $1.50 target price (down from $3.00) on shares of Alector in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $3.50.
Read Our Latest Stock Report on Alector
About Alector
(
Free Report)
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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