Nuveen Asset Management LLC Sells 16,778 Shares of Alector, Inc. (NASDAQ:ALEC)

Nuveen Asset Management LLC reduced its position in Alector, Inc. (NASDAQ:ALEC) by 7.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 212,711 shares of the company’s stock after selling 16,778 shares during the quarter. Nuveen Asset Management LLC’s holdings in Alector were worth $3,218,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Alector by 26.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,706,554 shares of the company’s stock worth $40,950,000 after purchasing an additional 567,632 shares in the last quarter. FMR LLC acquired a new position in Alector in the 1st quarter valued at approximately $20,862,000. Charles Schwab Investment Management Inc. raised its stake in shares of Alector by 23.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 334,775 shares of the company’s stock valued at $3,527,000 after acquiring an additional 64,271 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Alector by 160.5% during the third quarter. Morgan Stanley now owns 182,385 shares of the company’s stock worth $1,921,000 after purchasing an additional 112,380 shares during the period. Finally, Baillie Gifford & Co. grew its stake in shares of Alector by 91.7% in the fourth quarter. Baillie Gifford & Co. now owns 122,406 shares of the company’s stock worth $1,852,000 after purchasing an additional 58,548 shares during the last quarter. Institutional investors own 61.50% of the company’s stock.

Shares of Alector stock opened at $18.00 on Wednesday. The stock’s 50-day moving average is $18.29 and its 200 day moving average is $15.51. Alector, Inc. has a one year low of $9.12 and a one year high of $34.89. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -8.07 and a beta of 1.08.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Thursday, February 25th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.01). The business had revenue of $4.85 million during the quarter, compared to analyst estimates of $9.68 million. Alector had a negative net margin of 757.78% and a negative return on equity of 53.86%. On average, analysts predict that Alector, Inc. will post -2.44 earnings per share for the current fiscal year.

In other Alector news, insider Robert Paul sold 13,800 shares of the firm’s stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $22.21, for a total value of $306,498.00. Following the completion of the sale, the insider now directly owns 243,719 shares in the company, valued at $5,412,998.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 101,758 shares of company stock worth $1,972,685 in the last quarter. 13.90% of the stock is owned by corporate insiders.

Several research analysts have commented on ALEC shares. Morgan Stanley lifted their target price on Alector from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday. Zacks Investment Research raised shares of Alector from a “sell” rating to a “hold” rating in a research report on Tuesday, March 23rd. Finally, Bank of America began coverage on shares of Alector in a report on Friday, January 15th. They set a “buy” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Alector has a consensus rating of “Buy” and an average target price of $34.00.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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.

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Institutional Ownership by Quarter for Alector (NASDAQ:ALEC)

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