Alector (NASDAQ:ALEC) Announces Quarterly Earnings Results

by · The Markets Daily

Alector (NASDAQ:ALEC – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.06, FiscalAI reports. The firm had revenue of $3.26 million for the quarter, compared to the consensus estimate of $3.49 million. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%. Alector updated its FY 2025 guidance to EPS.

Alector Stock Up 3.6%

NASDAQ ALEC traded up $0.05 during trading hours on Thursday, hitting $1.30. 2,363,400 shares of the company traded hands, compared to its average volume of 5,254,005. Alector has a twelve month low of $0.87 and a twelve month high of $6.14. The stock has a market capitalization of $131.57 million, a price-to-earnings ratio of -1.12 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.78 and a current ratio of 3.78. The business’s 50-day moving average is $2.61 and its 200-day moving average is $1.92.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALEC shares. Mizuho set a $1.50 target price on shares of Alector and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. BTIG Research cut Alector from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald cut Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 22nd. Cowen downgraded shares of Alector to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Alector has a consensus rating of “Reduce” and an average target price of $3.00.

Get Our Latest Stock Analysis on ALEC

Insider Activity at Alector

In related news, Director Paula Hammond sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $2.36, for a total transaction of $33,040.00. Following the transaction, the director directly owned 74,909 shares of the company’s stock, valued at approximately $176,785.24. This trade represents a 15.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Alector by 153.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 313,578 shares of the company’s stock valued at $439,000 after purchasing an additional 189,686 shares during the last quarter. Boothbay Fund Management LLC lifted its holdings in shares of Alector by 67.2% in the second quarter. Boothbay Fund Management LLC now owns 458,863 shares of the company’s stock worth $642,000 after acquiring an additional 184,503 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Alector in the second quarter worth about $161,000. Strs Ohio bought a new position in shares of Alector in the first quarter worth about $126,000. Finally, Russell Investments Group Ltd. increased its position in Alector by 87.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 100,366 shares of the company’s stock worth $144,000 after purchasing an additional 46,945 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Alector Company Profile

(Get Free Report)

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.

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