Eversept Partners LP Lowers Stock Position in Alector, Inc. (NASDAQ:ALEC)

Eversept Partners LP lowered its position in shares of Alector, Inc. (NASDAQ:ALEC) by 39.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 200,095 shares of the company’s stock after selling 132,661 shares during the quarter. Eversept Partners LP owned about 0.20% of Alector worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ALEC. JPMorgan Chase & Co. boosted its position in shares of Alector by 64.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock valued at $12,716,000 after acquiring an additional 1,072,298 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Alector by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,914,250 shares of the company’s stock worth $3,619,000 after buying an additional 10,308 shares during the period. Renaissance Technologies LLC increased its position in Alector by 63.0% during the 4th quarter. Renaissance Technologies LLC now owns 915,738 shares of the company’s stock worth $1,731,000 after purchasing an additional 353,988 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Alector by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 882,120 shares of the company’s stock valued at $1,667,000 after acquiring an additional 157,231 shares during the period. Finally, Barclays PLC increased its stake in shares of Alector by 132.4% during the 3rd quarter. Barclays PLC now owns 176,800 shares of the company’s stock worth $824,000 after purchasing an additional 100,731 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Price Performance

Shares of ALEC stock opened at $0.97 on Tuesday. Alector, Inc. has a one year low of $0.87 and a one year high of $6.78. The firm has a 50-day moving average of $1.34 and a 200-day moving average of $2.44. The company has a market cap of $96.45 million, a P/E ratio of -0.57 and a beta of 0.73.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.59. The business had revenue of $54.24 million for the quarter, compared to analysts’ expectations of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, research analysts expect that Alector, Inc. will post -1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALEC shares. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Alector in a report on Thursday, February 27th. Morgan Stanley reaffirmed an “underweight” rating and issued a $1.50 price target (down from $3.00) on shares of Alector in a research note on Friday, March 7th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.50.

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.