Braidwell LP Sells 222,459 Shares of Alector, Inc. (NASDAQ:ALEC)

Braidwell LP reduced its position in Alector, Inc. (NASDAQ:ALEC) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,158,245 shares of the company’s stock after selling 222,459 shares during the quarter. Braidwell LP’s holdings in Alector were worth $10,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Alector during the 2nd quarter valued at $29,000. Lazard Asset Management LLC purchased a new position in shares of Alector in the first quarter valued at about $59,000. nVerses Capital LLC purchased a new position in shares of Alector in the third quarter valued at about $51,000. Valence8 US LP bought a new position in shares of Alector in the third quarter worth about $69,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Alector by 65.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $87,000 after purchasing an additional 7,395 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

Alector Stock Down 1.0 %

Alector stock opened at $2.55 on Friday. The company’s 50-day moving average price is $4.68 and its 200-day moving average price is $5.00. The company has a market cap of $249.23 million, a PE ratio of -1.50 and a beta of 0.66. Alector, Inc. has a twelve month low of $2.37 and a twelve month high of $8.90.

Alector (NASDAQ:ALEC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. As a group, sell-side analysts expect that Alector, Inc. will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Marc Grasso sold 7,297 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the transaction, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. The trade was a 5.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at $9,509,880.48. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,722 shares of company stock valued at $232,883. 9.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on ALEC. BTIG Research dropped their price target on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday. HC Wainwright decreased their price target on shares of Alector from $35.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley downgraded shares of Alector from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $10.00 to $3.00 in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.40.

Alector 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.