Baillie Gifford & Co. Sells 181,607 Shares of Alector, Inc. (NASDAQ:ALEC)

Baillie Gifford & Co. reduced its stake in shares of Alector, Inc. (NASDAQ:ALEC) by 69.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,835 shares of the company’s stock after selling 181,607 shares during the quarter. Baillie Gifford & Co.’s holdings in Alector were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALEC. Vanguard Group Inc. grew its holdings in shares of Alector by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 4,912,578 shares of the company’s stock valued at $29,574,000 after buying an additional 526,037 shares during the period. Acadian Asset Management LLC raised its stake in shares of Alector by 211.6% in the 1st quarter. Acadian Asset Management LLC now owns 444,647 shares of the company’s stock valued at $2,675,000 after purchasing an additional 301,936 shares during the period. Panagora Asset Management Inc. lifted its stake in Alector by 61.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 355,318 shares of the company’s stock valued at $1,613,000 after acquiring an additional 135,614 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Alector by 16.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 922,799 shares of the company’s stock worth $5,555,000 after purchasing an additional 128,515 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its holdings in Alector by 7.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,148,326 shares of the company’s stock worth $5,213,000 after purchasing an additional 75,481 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALEC has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Alector in a report on Thursday, November 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Alector Trading Down 7.7 %

Shares of NASDAQ ALEC opened at $5.13 on Thursday. The business’s 50 day moving average is $5.11 and its 200-day moving average is $5.13. Alector, Inc. has a 1-year low of $3.66 and a 1-year high of $8.90. The firm has a market cap of $501.89 million, a P/E ratio of -3.01 and a beta of 0.66.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The firm had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Analysts forecast that Alector, Inc. will post -1.87 EPS for the current year.

Insider Activity

In other news, CEO Arnon Rosenthal sold 26,499 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the transaction, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the completion of the transaction, the chief financial officer now owns 130,740 shares of the company’s stock, valued at $638,011.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,722 shares of company stock worth $232,883. 9.10% of the stock is currently owned by corporate insiders.

Alector Company Profile

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.