Federated Hermes Inc. Sells 91,133 Shares of Alector, Inc. (NASDAQ:ALEC)

Federated Hermes Inc. decreased its stake in Alector, Inc. (NASDAQ:ALEC) by 58.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,523 shares of the company’s stock after selling 91,133 shares during the period. Federated Hermes Inc. owned about 0.07% of Alector worth $515,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its stake in Alector by 352.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock valued at $78,000 after acquiring an additional 7,584 shares during the last quarter. Jasper Ridge Partners L.P. bought a new position in shares of Alector during the 3rd quarter valued at about $95,000. Blackstone Inc. raised its holdings in shares of Alector by 50.0% during the 3rd quarter. Blackstone Inc. now owns 15,429 shares of the company’s stock valued at $100,000 after buying an additional 5,143 shares in the last quarter. Diversified Trust Co lifted its position in Alector by 12.3% in the 4th quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock worth $113,000 after buying an additional 1,541 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in Alector in the third quarter worth approximately $119,000. Institutional investors own 85.83% of the company’s stock.

Insider Activity

In related news, CEO Arnon Rosenthal sold 18,837 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total value of $130,352.04. Following the sale, the chief executive officer now directly owns 2,000,380 shares of the company’s stock, valued at $13,842,629.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alector news, CFO Marc Grasso sold 5,716 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $6.92, for a total transaction of $39,554.72. Following the transaction, the chief financial officer now directly owns 144,957 shares of the company’s stock, valued at approximately $1,003,102.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 18,837 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $130,352.04. Following the completion of the sale, the chief executive officer now directly owns 2,000,380 shares of the company’s stock, valued at $13,842,629.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,554 shares of company stock valued at $211,434. Insiders own 14.00% of the company’s stock.

Alector Stock Performance

Shares of ALEC stock opened at $5.39 on Friday. The company has a market capitalization of $519.54 million, a P/E ratio of -3.48 and a beta of 0.82. Alector, Inc. has a fifty-two week low of $3.66 and a fifty-two week high of $9.06. The stock has a 50 day moving average price of $5.96 and a two-hundred day moving average price of $6.13.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.31. The company had revenue of $15.19 million during the quarter, compared to analyst estimates of $8.35 million. Alector had a negative net margin of 134.34% and a negative return on equity of 77.15%. As a group, equities analysts predict that Alector, Inc. will post -1.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $41.00 price target on shares of Alector in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Alector currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

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.