Alector (NASDAQ:ALEC) Posts Earnings Results, Beats Estimates By $0.10 EPS

Alector (NASDAQ:ALEC) released its quarterly earnings results on Wednesday. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10, Zacks reports. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The firm had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million.

Alector Trading Up 2.0 %

Shares of NASDAQ ALEC traded up $0.11 on Friday, reaching $5.75. 634,576 shares of the company traded hands, compared to its average volume of 621,828. Alector has a fifty-two week low of $3.66 and a fifty-two week high of $8.90. The stock has a market capitalization of $559.59 million, a PE ratio of -3.19 and a beta of 0.66. The company has a 50 day moving average of $5.07 and a 200 day moving average of $5.12.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ALEC shares. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Alector in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.75.

Insider Buying and Selling at Alector

In related news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $5.06, for a total value of $53,130.00. Following the sale, the director now directly owns 60,209 shares of the company’s stock, valued at $304,657.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $67,958.88. Following the sale, the insider now owns 291,715 shares of the company’s stock, valued at approximately $1,423,569.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paula Hammond sold 10,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.06, for a total value of $53,130.00. Following the sale, the director now owns 60,209 shares in the company, valued at approximately $304,657.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,222 shares of company stock valued at $286,013 over the last ninety days. Corporate insiders own 9.10% of the company’s stock.

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.