Cornercap Investment Counsel Inc. Has $55,000 Position in Alector, Inc. (NASDAQ:ALEC)

Cornercap Investment Counsel Inc. trimmed its stake in Alector, Inc. (NASDAQ:ALEC) by 51.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,767 shares of the company’s stock after selling 12,552 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Alector were worth $55,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALEC. Federated Hermes Inc. grew its stake in shares of Alector by 4.1% in the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock valued at $311,000 after buying an additional 2,709 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in Alector by 2.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock valued at $589,000 after acquiring an additional 3,500 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Alector by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock valued at $513,000 after acquiring an additional 3,790 shares during the period. ProShare Advisors LLC increased its holdings in shares of Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after acquiring an additional 3,827 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Alector by 13.0% during the first quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after purchasing an additional 4,105 shares during the period. 85.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ALEC. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Alector in a research report on Thursday, November 7th.

Insider Buying and Selling at Alector

In related news, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the sale, 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 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,722 shares of company stock worth $232,883 in the last quarter. 9.10% of the stock is currently owned by company insiders.

Alector Price Performance

ALEC opened at $3.76 on Tuesday. Alector, Inc. has a 1 year low of $3.69 and a 1 year high of $8.90. The company has a market capitalization of $368.22 million, a price-to-earnings ratio of -2.21 and a beta of 0.66. The firm’s fifty day moving average price is $5.10 and its two-hundred day moving average price is $5.12.

Alector (NASDAQ:ALEC) last posted its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. The firm had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, equities analysts anticipate that Alector, Inc. will post -1.87 EPS for the current year.

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.