Diadema Partners LP Purchases New Holdings in Alector, Inc. (NASDAQ:ALEC)

Diadema Partners LP purchased a new position in Alector, Inc. (NASDAQ:ALEC) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 239,019 shares of the company’s stock, valued at approximately $452,000.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Alector by 64.7% during the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock worth $12,716,000 after buying an additional 1,072,298 shares during the last quarter. Barclays PLC grew its stake in shares of Alector by 132.4% during the third quarter. Barclays PLC now owns 176,800 shares of the company’s stock worth $824,000 after buying an additional 100,731 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of Alector during the fourth quarter valued at $47,000. SG Americas Securities LLC increased its position in Alector by 27.9% during the 4th 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. Finally, Jane Street Group LLC lifted its stake in shares of Alector by 24.2% in the 3rd quarter. Jane Street Group LLC now owns 154,942 shares of the company’s stock valued at $722,000 after purchasing an additional 30,180 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Alector Stock Up 5.8 %

NASDAQ:ALEC opened at $0.97 on Tuesday. The stock’s 50-day moving average price is $1.34 and its 200-day moving average price is $2.44. The stock has a market capitalization of $96.45 million, a PE ratio of -0.57 and a beta of 0.73. Alector, Inc. has a 52 week low of $0.87 and a 52 week high of $6.78.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, February 26th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.59. The firm had revenue of $54.24 million during 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%. Sell-side analysts expect that Alector, Inc. will post -1.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on ALEC shares. Morgan Stanley reissued an “underweight” rating and set a $1.50 price objective (down from $3.00) on shares of Alector in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Alector in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Alector has a consensus rating of “Hold” and an average price target of $3.50.

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.