Charles Schwab Investment Management Inc. Acquires 94,145 Shares of Alector, Inc. (NASDAQ:ALEC)

Charles Schwab Investment Management Inc. grew its holdings in Alector, Inc. (NASDAQ:ALEC) by 14.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,606 shares of the company’s stock after acquiring an additional 94,145 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Alector were worth $3,544,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Deerfield Management Company L.P. Series C increased its holdings in shares of Alector by 7.0% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock worth $5,213,000 after acquiring an additional 75,481 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Alector by 32.8% in the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock worth $2,681,000 after acquiring an additional 146,015 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Alector by 61.7% in the second quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock worth $1,613,000 after acquiring an additional 135,614 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Alector by 21.5% during the second quarter. Bank of New York Mellon Corp now owns 279,938 shares of the company’s stock worth $1,271,000 after buying an additional 49,625 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Alector by 19.5% during the third quarter. Victory Capital Management Inc. now owns 186,747 shares of the company’s stock worth $870,000 after buying an additional 30,513 shares during the period. 85.83% of the stock is currently owned by institutional investors.

Insider Transactions at Alector

In other Alector news, CEO Arnon Rosenthal sold 52,172 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $131,473.44. Following the transaction, the chief executive officer now owns 2,507,074 shares in the company, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $66,780.00. Following the transaction, the insider now owns 565,215 shares in the company, valued at approximately $1,424,341.80. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,161 shares of company stock worth $239,806. Company insiders own 9.10% of the company’s stock.

Alector Stock Down 3.4 %

NASDAQ:ALEC opened at $1.97 on Friday. The firm has a market capitalization of $192.93 million, a price-to-earnings ratio of -1.16 and a beta of 0.51. Alector, Inc. has a 12-month low of $1.92 and a 12-month high of $8.90. The stock’s 50 day moving average price is $4.11 and its two-hundred day moving average price is $4.77.

Alector (NASDAQ:ALEC) last announced its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. Equities research analysts expect that Alector, Inc. will post -1.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALEC shares. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $9.00 to $1.00 in a research report on Wednesday, December 4th. BTIG Research reduced their price objective on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. HC Wainwright reduced their price objective on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Finally, Morgan Stanley cut Alector from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.