E Fund Management Co. Ltd. Makes New Investment in Alector, Inc. (NASDAQ:ALEC)

E Fund Management Co. Ltd. acquired a new stake in shares of Alector, Inc. (NASDAQ:ALEC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,192 shares of the company’s stock, valued at approximately $81,000.

Other institutional investors also recently modified their holdings of the company. Diversified Trust Co increased its stake in Alector by 12.3% during the 4th quarter. Diversified Trust Co now owns 14,102 shares of the company’s stock valued at $113,000 after purchasing an additional 1,541 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Alector by 3.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,239 shares of the company’s stock valued at $489,000 after acquiring an additional 2,120 shares in the last quarter. Blackstone Inc. boosted its holdings in Alector by 50.0% during the 3rd quarter. Blackstone Inc. now owns 15,429 shares of the company’s stock worth $100,000 after acquiring an additional 5,143 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Alector by 20.2% during the 3rd quarter. Principal Financial Group Inc. now owns 41,493 shares of the company’s stock worth $269,000 after acquiring an additional 6,973 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Alector by 352.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,733 shares of the company’s stock worth $78,000 after acquiring an additional 7,584 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alector news, insider Gary Romano sold 6,001 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $41,526.92. Following the completion of the transaction, the insider now directly owns 196,313 shares of the company’s stock, valued at approximately $1,358,485.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Marc Grasso sold 5,716 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.92, for a total value of $39,554.72. Following the sale, the chief financial officer now directly owns 144,957 shares of the company’s stock, valued at $1,003,102.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Romano sold 6,001 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $6.92, for a total transaction of $41,526.92. Following the completion of the transaction, the insider now directly owns 196,313 shares of the company’s stock, valued at approximately $1,358,485.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,554 shares of company stock valued at $211,434. Company insiders own 14.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALEC. HC Wainwright cut their price target on shares of Alector from $41.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Alector Price Performance

Shares of Alector stock traded up $0.10 during trading hours on Friday, reaching $5.30. The company had a trading volume of 12,095 shares, compared to its average volume of 644,814. Alector, Inc. has a one year low of $3.66 and a one year high of $9.06. The firm has a market cap of $510.87 million, a PE ratio of -3.35 and a beta of 0.82. The business has a fifty day simple moving average of $5.83 and a 200 day simple moving average of $6.12.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.31. Alector had a negative return on equity of 77.15% and a negative net margin of 134.34%. The firm had revenue of $15.19 million for the quarter, compared to analysts’ expectations of $8.35 million. On average, research analysts forecast that Alector, Inc. will post -1.89 EPS for the current year.

About Alector

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.