Eversept Partners LP Buys 344,943 Shares of Alector, Inc. $ALEC

Eversept Partners LP increased its stake in shares of Alector, Inc. (NASDAQ:ALEC) by 34.3% in the first quarter, HoldingsChannel reports. The firm owned 1,351,106 shares of the company’s stock after buying an additional 344,943 shares during the period. Eversept Partners LP’s holdings in Alector were worth $2,905,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 in the last quarter. Foresite Capital Management IV LLC bought a new stake in shares of Alector in the 4th quarter valued at about $6,064,000. 683 Capital Management LLC boosted its holdings in shares of Alector by 235.0% in the 4th quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock valued at $5,226,000 after buying an additional 2,350,000 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Alector in the 4th quarter worth approximately $5,094,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Alector by 76.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock worth $3,390,000 after buying an additional 942,228 shares during the last quarter. Institutional investors own 85.83% of the company’s stock.

Alector Price Performance

Shares of NASDAQ ALEC opened at $1.51 on Tuesday. Alector, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $3.40. The company has a market cap of $167.65 million, a PE ratio of -1.27 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.25 and a current ratio of 5.25. The business has a 50-day simple moving average of $1.79 and a two-hundred day simple moving average of $2.02.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.08. The firm had revenue of $1.05 million for 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%. As a group, equities analysts expect that Alector, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at Alector

In other Alector news, CFO Neil Lindsay Berkley sold 19,360 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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. The trade was a 4.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 87,216 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $171,815.52. Following the transaction, the chief executive officer owned 2,367,206 shares in the company, valued at $4,663,395.82. The trade was a 3.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 115,760 shares of company stock worth $227,734. 8.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ALEC. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (e+)” rating 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, Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price target on shares of Alector in a research report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Alector currently has a consensus rating of “Hold” and a consensus target price of $3.62.

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.