Citigroup Inc. grew its stake in shares of Alector Inc (NASDAQ:ALEC) by 1,411.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,232 shares of the company’s stock after purchasing an additional 25,430 shares during the period. Citigroup Inc.’s holdings in Alector were worth $469,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in ALEC. FMR LLC purchased a new stake in shares of Alector during the first quarter valued at $20,862,000. Pictet Asset Management Ltd. purchased a new stake in shares of Alector during the fourth quarter valued at $11,386,000. State Street Corp lifted its holdings in shares of Alector by 117.4% during the fourth quarter. State Street Corp now owns 1,040,743 shares of the company’s stock valued at $17,932,000 after purchasing an additional 562,076 shares during the last quarter. Mascoma Wealth Management LLC purchased a new stake in shares of Alector during the third quarter valued at $2,681,000. Finally, Millennium Management LLC lifted its holdings in shares of Alector by 124.1% during the third quarter. Millennium Management LLC now owns 321,671 shares of the company’s stock valued at $4,638,000 after purchasing an additional 178,111 shares during the last quarter. 53.82% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ALEC opened at $29.31 on Friday. Alector Inc has a 1-year low of $13.64 and a 1-year high of $35.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.57 and a quick ratio of 6.56. The business’s fifty day moving average price is $28.75 and its 200 day moving average price is $20.56.
In related news, insider Robert Paul sold 10,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $22.93, for a total transaction of $229,300.00. Following the transaction, the insider now directly owns 262,238 shares of the company’s stock, valued at $6,013,117.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Wehner purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of $28.19 per share, for a total transaction of $563,800.00. Following the completion of the transaction, the director now directly owns 44,621 shares of the company’s stock, valued at approximately $1,257,865.99. The disclosure for this purchase can be found here. Insiders have sold 519,969 shares of company stock worth $11,210,167 over the last three months. 34.40% of the stock is owned by insiders.
ALEC has been the subject of several analyst reports. Cowen reaffirmed a “buy” rating on shares of Alector in a report on Monday, December 16th. Barclays began coverage on Alector in a report on Thursday, February 27th. They set an “overweight” rating for the company. Stifel Nicolaus began coverage on Alector in a research report on Tuesday, February 18th. They set a “buy” rating on the stock. Zacks Investment Research raised Alector from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, March 17th. Finally, Citigroup began coverage on Alector in a research report on Thursday, March 5th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.00.
Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.
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