Eversept Partners LP Buys 344,943 Shares of Alector, Inc. $ALEC

Eversept Partners LP boosted its stake in shares of Alector, Inc. (NASDAQ:ALEC) by 34.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,351,106 shares of the company’s stock after buying an additional 344,943 shares during the period. Eversept Partners LP owned approximately 1.22% of Alector worth $2,905,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALEC. Jane Street Group LLC increased its position in Alector by 4.7% during the first quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after acquiring an additional 11,618 shares during the last quarter. Strs Ohio purchased a new stake in shares of Alector in the first quarter valued at $126,000. Geode Capital Management LLC lifted its holdings in shares of Alector by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock worth $2,775,000 after acquiring an additional 19,970 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Alector in the 2nd quarter worth about $30,000. Finally, XTX Topco Ltd boosted its stake in shares of Alector by 125.2% during the 2nd quarter. XTX Topco Ltd now owns 73,338 shares of the company’s stock worth $103,000 after purchasing an additional 40,767 shares during the period. 85.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALEC. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alector in a research note on Monday, May 4th. Cantor Fitzgerald upgraded Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 target price on shares of Alector in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Alector has an average rating of “Hold” and a consensus target price of $3.62.

Insider Activity

In other news, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $38,139.20. Following the completion of the sale, the chief financial officer owned 379,900 shares in the company, valued at approximately $748,403. The trade was a 4.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arnon Rosenthal sold 87,216 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $171,815.52. Following the transaction, the chief executive officer owned 2,367,206 shares in the company, valued at approximately $4,663,395.82. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 115,760 shares of company stock valued at $227,734. 8.30% of the stock is owned by corporate insiders.

Alector Stock Up 2.0%

NASDAQ:ALEC opened at $1.51 on Tuesday. Alector, Inc. has a twelve month low of $1.09 and a twelve month high of $3.40. The company has a market cap of $167.65 million, a price-to-earnings ratio of -1.27 and a beta of 0.60. The stock has a fifty day simple moving average of $1.79 and a 200-day simple moving average of $2.02. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 0.80.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. The firm had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $9.67 million. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. Analysts anticipate that Alector, Inc. will post -0.86 EPS for the current year.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.