Alector, Inc. (NASDAQ:ALEC) Shares Sold by Sphera Funds Management LTD.

Sphera Funds Management LTD. lowered its holdings in shares of Alector, Inc. (NASDAQ:ALEC - Free Report) by 47.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 324,639 shares of the company's stock after selling 295,361 shares during the quarter. Sphera Funds Management LTD. owned approximately 0.33% of Alector worth $614,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. RA Capital Management L.P. purchased a new position in Alector during the fourth quarter worth approximately $18,324,000. Geode Capital Management LLC lifted its position in shares of Alector by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,914,250 shares of the company's stock valued at $3,619,000 after acquiring an additional 10,308 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its position in shares of Alector by 1.1% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,066,962 shares of the company's stock valued at $2,017,000 after acquiring an additional 11,770 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Alector by 4.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,059,691 shares of the company's stock valued at $2,003,000 after acquiring an additional 42,004 shares in the last quarter. Finally, 5AM Venture Management LLC purchased a new position in shares of Alector in the fourth quarter valued at approximately $1,882,000. Hedge funds and other institutional investors own 85.83% of the company's stock.

Alector Price Performance

Shares of NASDAQ:ALEC traded up $0.05 during midday trading on Monday, hitting $1.27. The company had a trading volume of 847,231 shares, compared to its average volume of 840,470. Alector, Inc. has a twelve month low of $0.87 and a twelve month high of $6.78. The stock has a market cap of $126.99 million, a price-to-earnings ratio of -0.75 and a beta of 0.76. The business's 50-day simple moving average is $1.15 and its 200-day simple moving average is $1.92.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALEC. HC Wainwright raised their target price on Alector from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Morgan Stanley restated an "underweight" rating and issued a $1.50 target price (down previously 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 given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.00.

About Alector

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.