Alector (NASDAQ:ALEC) Posts Quarterly Earnings Results, Beats Estimates By $1.34 EPS

Alector (NASDAQ:ALEC) issued its earnings results on Thursday. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $1.34, FiscalAI reports. Alector had a negative net margin of 850.13% and a negative return on equity of 531.03%. The firm had revenue of $162.87 million for the quarter, compared to the consensus estimate of $2.19 million.

Alector Stock Performance

NASDAQ:ALEC traded down $0.19 during mid-day trading on Thursday, reaching $2.09. The company’s stock had a trading volume of 1,270,117 shares, compared to its average volume of 2,418,179. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.80. The stock has a market cap of $233.36 million, a P/E ratio of -1.90 and a beta of 0.61. The firm’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $2.03. Alector has a 12-month low of $1.09 and a 12-month high of $2.76.

Insider Transactions at Alector

In other news, CEO Arnon Rosenthal sold 72,606 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $193,131.96. Following the completion of the transaction, the chief executive officer directly owned 2,294,600 shares of the company’s stock, valued at $6,103,636. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Neil Berkley sold 29,251 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total transaction of $77,807.66. Following the transaction, the chief financial officer directly owned 350,649 shares of the company’s stock, valued at $932,726.34. The trade was a 7.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 111,303 shares of company stock worth $295,633. Insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALEC. HC Wainwright boosted their price objective on shares of Alector from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Weiss Ratings upgraded Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. UBS Group reiterated a “neutral” rating and set a $1.50 target price on shares of Alector in a research note on Tuesday, October 6th. Finally, Morgan Stanley lifted their target price on Alector from $2.00 to $3.00 and gave the stock an “underweight” rating in a report on Tuesday, October 6th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.62.

About Alector

Alector, Inc (NASDAQ: ALEC) is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company’s research platform, known as immuno-neurology, is designed to use the body’s immune system to protect or restore the brain’s ability to maintain healthy neural connections.

Alector’s investigational pipeline has included antibody-based treatments for conditions such as frontotemporal dementia and Alzheimer’s disease. Its programs have targeted biological pathways associated with neurodegeneration, including progranulin and TREM2.