BNP Paribas Financial Markets Sells 47,472 Shares of Alector, Inc. (NASDAQ:ALEC)

BNP Paribas Financial Markets reduced its position in Alector, Inc. (NASDAQ:ALEC) by 70.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,120 shares of the company’s stock after selling 47,472 shares during the quarter. BNP Paribas Financial Markets’ holdings in Alector were worth $94,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Alector by 1.0% during the 3rd quarter. FMR LLC now owns 14,595,014 shares of the company’s stock worth $68,013,000 after acquiring an additional 137,794 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its position in shares of Alector by 7.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock worth $5,213,000 after purchasing an additional 75,481 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Alector by 14.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 760,606 shares of the company’s stock valued at $3,544,000 after purchasing an additional 94,145 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Alector by 32.8% during the second quarter. Acadian Asset Management LLC now owns 590,662 shares of the company’s stock valued at $2,681,000 after purchasing an additional 146,015 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Alector by 61.7% during the second quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after buying an additional 135,614 shares during the period. 85.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Marc Grasso sold 16,489 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $41,552.28. Following the sale, the chief financial officer now owns 330,651 shares in the company, valued at $833,240.52. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,507,074 shares in the company, valued at approximately $6,317,826.48. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,161 shares of company stock valued at $239,806 over the last ninety days. 9.10% of the stock is currently owned by insiders.

Alector Stock Performance

Shares of NASDAQ ALEC opened at $1.78 on Thursday. Alector, Inc. has a fifty-two week low of $1.75 and a fifty-two week high of $8.90. The company has a market cap of $174.32 million, a PE ratio of -1.05 and a beta of 0.51. The business has a 50-day simple moving average of $4.00 and a two-hundred day simple moving average of $4.72.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. The company had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. On average, sell-side analysts predict that Alector, Inc. will post -1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALEC shares. HC Wainwright lowered their target price on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a report on Friday, November 29th. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $9.00 to $1.00 in a research note on Wednesday, December 4th. BTIG Research cut their target price on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Mizuho lowered shares of Alector from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $2.50 in a research report on Tuesday. Finally, Morgan Stanley cut shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $10.00 to $3.00 in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.75.

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.