Elmind Capital LP Takes Position in Alector, Inc. $ALEC

Elmind Capital LP purchased a new position in shares of Alector, Inc. (NASDAQ:ALEC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 900,000 shares of the company’s stock, valued at approximately $1,809,000,000. Alector comprises about 0.5% of Elmind Capital LP’s portfolio, making the stock its 29th biggest position. Elmind Capital LP owned about 0.81% of Alector at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ALEC. Jane Street Group LLC increased its holdings in Alector by 4.7% in the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after purchasing an additional 11,618 shares in the last quarter. Strs Ohio purchased a new position in shares of Alector in the first quarter valued at $126,000. Geode Capital Management LLC boosted its stake in shares of Alector by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock valued at $2,775,000 after purchasing an additional 19,970 shares during the period. Prudential Financial Inc. acquired a new stake in Alector during the 2nd quarter valued at $30,000. Finally, XTX Topco Ltd increased its stake in Alector by 125.2% during the 2nd quarter. XTX Topco Ltd now owns 73,338 shares of the company’s stock worth $103,000 after buying an additional 40,767 shares during the period. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Stock Up 2.6%

NASDAQ:ALEC opened at $2.36 on Wednesday. The stock has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $2.03. Alector, Inc. has a one year low of $1.09 and a one year high of $3.40. The company has a market capitalization of $263.52 million, a price-to-earnings ratio of -2.15 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.26 and a current ratio of 5.26.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. The business had revenue of $3.32 million for the quarter, compared to analyst estimates of $1.71 million. Alector had a negative return on equity of 531.03% and a negative net margin of 850.13%. Sell-side analysts predict that Alector, Inc. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Neil Lindsay Berkley sold 19,360 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total transaction of $38,139.20. Following the completion of the transaction, the chief financial officer directly owned 379,900 shares in the company, valued at $748,403. This represents a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arnon Rosenthal sold 87,216 shares of the stock in a transaction 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 directly owned 2,367,206 shares in the company, valued at $4,663,395.82. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,760 shares of company stock worth $227,734 over the last quarter. Insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALEC. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price objective on shares of Alector in a report on Monday, May 4th. Wall Street Zen raised Alector from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.62.

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.