Alector (NASDAQ:ALEC) Posts Earnings Results, Beats Estimates By $0.59 EPS

Alector (NASDAQ:ALEC) posted its earnings results on Wednesday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.59, Zacks reports. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The business had revenue of $54.24 million for the quarter, compared to analyst estimates of $20.41 million. Alector updated its FY 2025 guidance to EPS.

Alector Stock Performance

Shares of NASDAQ:ALEC opened at $1.66 on Friday. The company’s fifty day moving average is $1.78 and its 200-day moving average is $3.55. Alector has a 52 week low of $1.55 and a 52 week high of $7.58. The company has a market capitalization of $162.57 million, a PE ratio of -0.98 and a beta of 0.61.

Insider Buying and Selling

In other news, insider Sara Kenkare-Mitra sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total value of $66,780.00. Following the transaction, the insider now directly owns 565,215 shares of the company’s stock, valued at $1,424,341.80. The trade was a 4.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc Grasso sold 16,489 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $41,552.28. Following the sale, the chief financial officer now directly owns 330,651 shares of the company’s stock, valued at $833,240.52. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,161 shares of company stock worth $239,806 in the last quarter. 9.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALEC has been the topic of several recent analyst reports. BTIG Research dropped their price target on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Stifel Nicolaus downgraded shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Alector in a research note on Thursday. Mizuho lowered shares of Alector from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $2.50 in a research report on Tuesday, December 17th. Finally, Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alector has an average rating of “Hold” and a consensus target price 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.