Alector (NASDAQ:ALEC) Issues Earnings Results

Alector (NASDAQ:ALEC) released its quarterly earnings data on Wednesday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.59, Zacks reports. The firm had revenue of $54.24 million during the quarter, compared to the consensus estimate of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. Alector updated its FY 2025 guidance to EPS.

Alector Trading Down 3.5 %

Shares of Alector stock opened at $1.66 on Friday. Alector has a 52 week low of $1.55 and a 52 week high of $7.58. The company’s 50-day moving average price is $1.78 and its two-hundred day moving average price is $3.55. The stock has a market cap of $162.57 million, a PE ratio of -0.98 and a beta of 0.61.

Insider Buying and Selling

In related news, insider Sara Kenkare-Mitra sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $66,780.00. Following the transaction, the insider now directly owns 565,215 shares of the company’s stock, valued at approximately $1,424,341.80. The trade was a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marc Grasso sold 16,489 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $41,552.28. Following the transaction, the chief financial officer now owns 330,651 shares in the company, valued at approximately $833,240.52. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,161 shares of company stock worth $239,806. Corporate insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ALEC. Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $10.00 to $3.00 in a report on Tuesday, November 26th. BTIG Research lowered their target price on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Bank of America downgraded Alector from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $9.00 to $1.00 in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus cut Alector from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.75.

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.