ADAR1 Capital Management LLC Sells 60,472 Shares of Alector, Inc. (NASDAQ:ALEC)

ADAR1 Capital Management LLC trimmed its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 14.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 368,330 shares of the company’s stock after selling 60,472 shares during the period. ADAR1 Capital Management LLC’s holdings in Alector were worth $696,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ALEC. Point72 DIFC Ltd acquired a new stake in Alector during the third quarter worth approximately $29,000. Nordea Investment Management AB grew its holdings in Alector by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 165,713 shares of the company’s stock worth $295,000 after acquiring an additional 7,971 shares during the last quarter. SG Americas Securities LLC increased its holdings in Alector by 27.9% in the fourth quarter. SG Americas Securities LLC now owns 39,334 shares of the company’s stock valued at $74,000 after purchasing an additional 8,581 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alector in the third quarter valued at about $40,000. Finally, Geode Capital Management LLC raised its holdings in Alector by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,914,250 shares of the company’s stock worth $3,619,000 after purchasing an additional 10,308 shares during the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on ALEC. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Alector in a research report on Thursday, February 27th. Stifel Nicolaus cut Alector from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research note on Monday, December 16th. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 price objective (down from $3.00) on shares of Alector in a research note on Friday, March 7th. Finally, Mizuho cut Alector from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $2.50 in a research report on Tuesday, December 17th. Two research 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 a consensus rating of “Hold” and a consensus price target of $3.50.

Alector Trading Down 6.4 %

NASDAQ:ALEC opened at $1.02 on Monday. Alector, Inc. has a 12-month low of $1.01 and a 12-month high of $6.78. The stock has a 50-day moving average price of $1.53 and a 200 day moving average price of $2.79. The stock has a market capitalization of $101.07 million, a P/E ratio of -0.60 and a beta of 0.73.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, February 26th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 108.77% and a negative net margin of 257.54%. On average, research analysts predict that Alector, Inc. will post -1.88 earnings per share for the current fiscal year.

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.