Alector (NASDAQ:ALEC) Issues Earnings Results

Alector (NASDAQ:ALEC) issued its quarterly earnings results on Thursday. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02, FiscalAI reports. Alector had a negative net margin of 850.13% and a negative return on equity of 358.06%. The firm had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $1.71 million.

Alector Trading Down 2.7%

NASDAQ:ALEC opened at $1.78 on Friday. The company has a market capitalization of $197.63 million, a P/E ratio of -1.62 and a beta of 0.60. The stock’s 50 day moving average price is $1.68 and its 200 day moving average price is $2.01. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.25 and a current ratio of 5.25. Alector has a 52 week low of $1.09 and a 52 week high of $3.40.

Insider Activity at Alector

In other Alector news, CEO Arnon Rosenthal sold 87,216 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total value of $171,815.52. Following the completion of the sale, the chief executive officer directly owned 2,367,206 shares of the company’s stock, 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 legal filing with the SEC, which is available at this hyperlink. Also, CFO Neil Lindsay Berkley sold 19,360 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1.97, for a total transaction of $38,139.20. Following the transaction, the chief financial officer owned 379,900 shares in the company, valued at $748,403. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,760 shares of company stock valued at $227,734 over the last three months. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALEC. Prudential Financial Inc. acquired a new stake in Alector in the 2nd quarter worth approximately $30,000. Virtu Financial LLC acquired a new position in Alector during the fourth quarter valued at approximately $34,000. Dynamic Technology Lab Private Ltd bought a new stake in Alector during the fourth quarter valued at about $40,000. Oxford Asset Management LLP bought a new stake in Alector in the 4th quarter valued at $67,000. Finally, Quadrature Capital Ltd acquired a new stake in Alector during the fourth quarter worth about $97,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Alector

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.