California Public Employees Retirement System Takes $157,000 Position in Alector Inc (NASDAQ:ALEC)

California Public Employees Retirement System bought a new position in shares of Alector Inc (NASDAQ:ALEC) during the third quarter, Holdings Channel.com reports. The fund bought 10,893 shares of the company’s stock, valued at approximately $157,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALEC. Virtus ETF Advisers LLC bought a new position in shares of Alector in the 2nd quarter worth $251,000. Wells Fargo & Company MN grew its position in Alector by 89.2% in the 2nd quarter. Wells Fargo & Company MN now owns 13,650 shares of the company’s stock valued at $259,000 after purchasing an additional 6,434 shares during the period. Rhumbline Advisers increased its stake in Alector by 214.7% during the 3rd quarter. Rhumbline Advisers now owns 31,829 shares of the company’s stock valued at $459,000 after purchasing an additional 21,716 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Alector by 150.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,156 shares of the company’s stock valued at $611,000 after purchasing an additional 19,302 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Alector during the 2nd quarter valued at $798,000. Institutional investors own 49.75% of the company’s stock.

ALEC stock opened at $19.76 on Friday. Alector Inc has a twelve month low of $13.64 and a twelve month high of $27.00. The company has a quick ratio of 6.56, a current ratio of 6.57 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average is $16.75 and its 200-day moving average is $17.53. The firm has a market capitalization of $1.36 billion and a PE ratio of -4.28.

Alector (NASDAQ:ALEC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.07). Alector had a negative net margin of 378.57% and a negative return on equity of 58.27%. The company had revenue of $2.70 million for the quarter. On average, equities research analysts anticipate that Alector Inc will post -1.63 earnings per share for the current fiscal year.

ALEC has been the topic of a number of recent research reports. ValuEngine lowered shares of Alector from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Zacks Investment Research upgraded shares of Alector from a “sell” rating to a “hold” rating in a report on Monday, November 11th. BTIG Research initiated coverage on shares of Alector in a research report on Wednesday, November 27th. They set a “buy” rating and a $28.00 target price for the company. Finally, Cowen restated a “buy” rating on shares of Alector in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $27.00.

In related news, VP Calvin Yu sold 1,315 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $19.39, for a total transaction of $25,497.85. Also, insider Robert Paul sold 4,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $20.00, for a total transaction of $80,000.00. Insiders sold a total of 32,815 shares of company stock valued at $562,348 over the last three months. 34.40% of the stock is currently owned by insiders.

Alector Profile

Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.

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Institutional Ownership by Quarter for Alector (NASDAQ:ALEC)

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