Eversept Partners LP Sells 482,562 Shares of Alector, Inc. $ALEC

Eversept Partners LP trimmed its stake in Alector, Inc. (NASDAQ:ALEC) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,006,163 shares of the company’s stock after selling 482,562 shares during the quarter. Eversept Partners LP owned about 0.92% of Alector worth $1,570,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Alector by 0.8% in the third quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock worth $17,863,000 after purchasing an additional 46,955 shares during the period. Foresite Capital Management IV LLC acquired a new stake in Alector in the fourth quarter worth $6,064,000. 683 Capital Management LLC grew its holdings in Alector by 235.0% in the fourth quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock worth $5,226,000 after purchasing an additional 2,350,000 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Alector in the fourth quarter worth $5,094,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Alector by 76.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock worth $3,390,000 after purchasing an additional 942,228 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALEC. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alector in a research report on Monday, May 4th. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. BTIG Research raised shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Tuesday, March 10th. Finally, Morgan Stanley reissued an “underweight” rating and set a $2.00 target price on shares of Alector in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.63.

Alector Stock Performance

Shares of ALEC opened at $1.56 on Thursday. The stock’s 50-day simple moving average is $2.16 and its 200 day simple moving average is $1.96. The stock has a market capitalization of $173.21 million, a price-to-earnings ratio of -1.31 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.25 and a current ratio of 5.25. Alector, Inc. has a 52-week low of $1.09 and a 52-week high of $3.40.

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

Insider Buying and Selling

In related news, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $38,139.20. Following the completion of the sale, the chief financial officer owned 379,900 shares in the company, valued at $748,403. The trade was a 4.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $171,815.52. Following the completion of the sale, the chief executive officer owned 2,367,206 shares of the company’s stock, valued at $4,663,395.82. The trade was a 3.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 117,580 shares of company stock valued at $232,557 in the last 90 days. 8.30% of the stock is currently owned by corporate insiders.

About Alector

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.