Millennium Management LLC Purchases 23,467 Shares of Alector, Inc. (NASDAQ:ALEC)

Millennium Management LLC grew its position in Alector, Inc. (NASDAQ:ALEC) by 45.8% during the 4th quarter, HoldingsChannel reports. The firm owned 74,685 shares of the company’s stock after purchasing an additional 23,467 shares during the quarter. Millennium Management LLC’s holdings in Alector were worth $141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RA Capital Management L.P. bought a new stake in shares of Alector in the 4th quarter valued at $18,324,000. 5AM Venture Management LLC acquired a new position in Alector in the fourth quarter valued at about $1,882,000. Renaissance Technologies LLC increased its holdings in shares of Alector by 63.0% in the fourth quarter. Renaissance Technologies LLC now owns 915,738 shares of the company’s stock worth $1,731,000 after acquiring an additional 353,988 shares in the last quarter. Almitas Capital LLC bought a new stake in shares of Alector in the fourth quarter worth about $538,000. Finally, Boothbay Fund Management LLC raised its position in shares of Alector by 562.5% during the fourth quarter. Boothbay Fund Management LLC now owns 294,156 shares of the company’s stock worth $556,000 after purchasing an additional 249,756 shares during the period. 85.83% of the stock is owned by institutional investors.

Alector Stock Performance

Shares of ALEC stock opened at $1.62 on Friday. The firm’s 50-day moving average is $1.20 and its 200-day moving average is $1.55. The stock has a market cap of $161.99 million, a price-to-earnings ratio of -0.95 and a beta of 0.71. Alector, Inc. has a 52-week low of $0.87 and a 52-week high of $6.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $1.50 price objective (down from $3.00) on shares of Alector in a research report on Friday, March 7th. HC Wainwright boosted their price target on Alector from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Alector presently has an average rating of “Hold” and a consensus price target of $4.00.

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.