Spruce Street Capital LP Takes $1.74 Million Position in Alector, Inc. $ALEC

Spruce Street Capital LP bought a new stake in shares of Alector, Inc. (NASDAQ:ALEC) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,117,986 shares of the company’s stock, valued at approximately $1,744,000. Alector makes up about 0.6% of Spruce Street Capital LP’s portfolio, making the stock its 24th biggest position. Spruce Street Capital LP owned approximately 1.02% of Alector as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Panagora Asset Management Inc. increased its holdings in Alector by 14.7% during the 4th quarter. Panagora Asset Management Inc. now owns 850,298 shares of the company’s stock valued at $1,326,000 after acquiring an additional 109,005 shares in the last quarter. Marshall Wace LLP increased its holdings in Alector by 669.4% during the 4th quarter. Marshall Wace LLP now owns 1,166,817 shares of the company’s stock valued at $1,820,000 after acquiring an additional 1,015,174 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Alector by 76.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock valued at $3,390,000 after acquiring an additional 942,228 shares in the last quarter. State Street Corp increased its holdings in Alector by 4.6% during the 4th quarter. State Street Corp now owns 1,814,298 shares of the company’s stock valued at $2,830,000 after acquiring an additional 79,619 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Alector during the 4th quarter valued at about $40,000. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

Alector Stock Performance

Shares of NASDAQ ALEC opened at $1.48 on Tuesday. The company has a market cap of $164.32 million, a PE ratio of -1.24 and a beta of 0.61. Alector, Inc. has a 12 month low of $1.09 and a 12 month high of $3.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.25 and a quick ratio of 5.25. The company has a 50-day simple moving average of $2.19 and a 200-day simple moving average of $1.96.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. The business had revenue of $1.05 million during the quarter, compared to the consensus estimate of $9.67 million. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. On average, equities analysts anticipate that Alector, Inc. will post -0.86 earnings per share for the current year.

Insider Transactions at Alector

In other news, CEO Arnon Rosenthal sold 87,216 shares of Alector stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $171,815.52. Following the completion of the sale, the chief executive officer directly owned 2,367,206 shares in the company, valued at $4,663,395.82. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Neil Lindsay Berkley sold 19,360 shares of Alector stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $38,139.20. Following the sale, the chief financial officer owned 379,900 shares of the company’s stock, valued at approximately $748,403. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 117,580 shares of company stock valued at $232,557. Insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

ALEC has been the subject of several recent research reports. BTIG Research upgraded shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a report on Monday, May 4th. Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley restated an “underweight” rating and set a $2.00 target price on shares of Alector in a report on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.63.

Alector Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.