Fintel reports that Polaris Venture Partners VI has filed a 13G/A form with the SEC disclosing ownership of 11.94MM shares of Alector Inc (ALEC). This represents 14.4% of the company.
In their previous filing dated February 11, 2022 they reported 12.41MM shares and 15.30% of the company, a decrease in shares of 3.75% and a decrease in total ownership of 0.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 114.86% Upside
As of February 6, 2023, the average one-year price target for Alector is $20.63. The forecasts range from a low of $6.06 to a high of $56.70. The average price target represents an increase of 114.86% from its latest reported closing price of $9.60.
The projected annual revenue for Alector is $173MM, an increase of 30.16%. The projected annual EPS is $-1.87.
Fund Sentiment
There are 374 funds or institutions reporting positions in Alector. This is a decrease of 0 owner(s) or 0.00%.
Average portfolio weight of all funds dedicated to US:ALEC is 0.0913%, an increase of 1.8004%. Total shares owned by institutions increased in the last three months by 0.99% to 58,191K shares.
What are large shareholders doing?
Federated Hermes holds 5,656,601 shares representing 6.84% ownership of the company. In it's prior filing, the firm reported owning 5,746,830 shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in ALEC by 44.22% over the last quarter.
EcoR1 Capital holds 4,056,548 shares representing 4.91% ownership of the company. No change in the last quarter.
Jpmorgan Chase & holds 2,384,091 shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 2,474,889 shares, representing a decrease of 3.81%. The firm decreased its portfolio allocation in ALEC by 7.54% over the last quarter.
KAUAX - Federated Kaufmann Fund Shares holds 2,225,000 shares representing 2.69% ownership of the company. No change in the last quarter.
XBI - SPDR Biotech ETF holds 2,043,905 shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 2,689,044 shares, representing a decrease of 31.56%. The firm decreased its portfolio allocation in ALEC by 29.15% over the last quarter.
Alector Background Information
(This description is provided by the company.)
Alector is a clinical stage biotechnology company pioneering immuno-neurology, a novel therapeutic approach for the treatment of neurodegenerative diseases. The Company is developing a broad portfolio of innate immune system programs, designed to functionally repair genetic mutations that cause dysfunction of the brain's immune system and enable the rejuvenated immune cells to counteract emerging brain pathologies. Immuno-neurology targets immune dysfunction as a root cause of multiple pathologies that are drivers of degenerative brain disorders. The Company's immuno-neurology product candidates are supported by biomarkers and target genetically defined patient populations in frontotemporal dementia and Alzheimer's disease. This scientific approach is also the basis for the Company's immuno-oncology programs.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
