Alector, Inc. (NASDAQ:ALEC) Shares Sold by Cannell & Co.

Cannell & Co. trimmed its holdings in shares of Alector, Inc. (NASDAQ:ALEC) by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,177 shares of the company’s stock after selling 22,075 shares during the period. Cannell & Co. owned approximately 0.07% of Alector worth $528,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ALEC. Bailard Inc. acquired a new position in shares of Alector in the 3rd quarter valued at $119,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alector by 7.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,119 shares of the company’s stock valued at $383,000 after purchasing an additional 4,114 shares during the period. TD Asset Management Inc lifted its stake in shares of Alector by 957.2% in the 3rd quarter. TD Asset Management Inc now owns 119,138 shares of the company’s stock valued at $772,000 after purchasing an additional 107,869 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Alector by 21.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 293,534 shares of the company’s stock valued at $1,902,000 after purchasing an additional 51,440 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Alector by 20.2% in the 3rd quarter. Principal Financial Group Inc. now owns 41,493 shares of the company’s stock valued at $269,000 after purchasing an additional 6,973 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alector

In other news, insider Gary Romano sold 6,001 shares of the company’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 $41,526.92. Following the completion of the sale, the insider now owns 196,313 shares of the company’s stock, valued at $1,358,485.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Marc Grasso sold 5,716 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $39,554.72. Following the completion of the sale, the chief financial officer now owns 144,957 shares of the company’s stock, valued at $1,003,102.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Romano sold 6,001 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.92, for a total transaction of $41,526.92. Following the completion of the sale, the insider now directly owns 196,313 shares of the company’s stock, valued at approximately $1,358,485.96. The disclosure for this sale can be found here. Insiders sold 30,554 shares of company stock valued at $211,434 over the last 90 days. 14.00% of the stock is currently owned by corporate insiders.

Alector Stock Up 3.9 %

Alector stock opened at $5.28 on Thursday. Alector, Inc. has a 52-week low of $3.66 and a 52-week high of $9.06. The company has a fifty day simple moving average of $6.00 and a 200-day simple moving average of $6.14.

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $41.00 price objective on shares of Alector in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Alector 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.