Price T Rowe Associates Inc. MD Sells 70,370 Shares of Alector, Inc. (NASDAQ:ALEC)

Price T Rowe Associates Inc. MD cut its holdings in Alector, Inc. (NASDAQ:ALEC) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 746,088 shares of the company’s stock after selling 70,370 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Alector were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in Alector by 71.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company’s stock valued at $28,000 after purchasing an additional 6,096 shares during the period. Vontobel Holding Ltd. grew its position in Alector by 127.3% during the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock valued at $47,000 after buying an additional 14,000 shares during the period. Apollon Wealth Management LLC purchased a new stake in Alector during the fourth quarter worth about $47,000. RPO LLC bought a new stake in Alector in the fourth quarter worth about $50,000. Finally, Intech Investment Management LLC boosted its stake in Alector by 83.5% in the fourth quarter. Intech Investment Management LLC now owns 35,382 shares of the company’s stock valued at $67,000 after acquiring an additional 16,096 shares during the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 price objective (down previously from $3.00) on shares of Alector in a research note on Friday, March 7th. HC Wainwright increased their price target on Alector from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.00.

Alector Stock Performance

NASDAQ:ALEC opened at $1.18 on Friday. The business’s fifty day moving average is $1.19 and its 200 day moving average is $2.12. The firm has a market cap of $117.49 million, a price-to-earnings ratio of -0.69 and a beta of 0.76. Alector, Inc. has a 52-week low of $0.87 and a 52-week high of $6.78.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.59. The firm had revenue of $54.24 million for the quarter, compared to the consensus estimate of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Equities analysts predict that Alector, Inc. will post -1.88 EPS 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.