Alector (NASDAQ:ALEC) Releases Earnings Results, Beats Expectations By $0.01 EPS

Alector (NASDAQ:ALEC – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01, FiscalAI reports. Alector had a negative net margin of 680.83% and a negative return on equity of 295.17%. The company had revenue of $3.32 million during the quarter, compared to the consensus estimate of $1.71 million.

Alector Stock Down 2.7%

NASDAQ:ALEC traded down $0.05 on Friday, reaching $1.78. 1,247,032 shares of the stock traded hands, compared to its average volume of 803,203. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $197.63 million, a price-to-earnings ratio of -1.50 and a beta of 0.60. Alector has a 12 month low of $1.09 and a 12 month high of $3.40. The company’s fifty day simple moving average is $1.69 and its 200 day simple moving average is $2.01.

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Insider Buying and Selling

In other news, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1.97, for a total value of $171,815.52. Following the completion of the transaction, the chief executive officer owned 2,367,206 shares in the company, valued at $4,663,395.82. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $38,139.20. Following the transaction, the chief financial officer directly owned 379,900 shares in the company, valued at approximately $748,403. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 115,760 shares of company stock worth $227,734. Corporate insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Alector

A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC boosted its holdings in shares of Alector by 4.7% during the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company’s stock valued at $316,000 after acquiring an additional 11,618 shares during the last quarter. Strs Ohio purchased a new position in shares of Alector during the first quarter valued at approximately $126,000. Geode Capital Management LLC raised its holdings in shares of Alector by 1.0% during the second quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock valued at $2,775,000 after purchasing an additional 19,970 shares during the last quarter. Prudential Financial Inc. bought a new position in Alector during the second quarter valued at approximately $30,000. Finally, XTX Topco Ltd boosted its holdings in Alector by 125.2% in the second quarter. XTX Topco Ltd now owns 73,338 shares of the company’s stock worth $103,000 after purchasing an additional 40,767 shares during the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ALEC has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alector in a report on Friday, July 31st. Wall Street Zen upgraded Alector from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price target on shares of Alector in a research note on Monday, May 4th. Finally, Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a report on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.62.

Check Out Our Latest Stock Analysis on Alector

Alector Company Profile

(Get Free Report)

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.

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