Alector (NASDAQ:ALEC) Announces Earnings Results, Beats Expectations By $0.08 EPS

Alector (NASDAQ:ALEC) posted its earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08, FiscalAI reports. The company had revenue of $3.26 million for the quarter, compared to the consensus estimate of $3.49 million. Alector had a negative return on equity of 110.47% and a negative net margin of 156.03%. Alector updated its FY 2025 guidance to EPS.

Alector Price Performance

ALEC stock opened at $1.28 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.78 and a current ratio of 3.78. The company’s fifty day moving average price is $2.59 and its 200-day moving average price is $1.92. Alector has a one year low of $0.87 and a one year high of $6.14. The company has a market capitalization of $129.55 million, a PE ratio of -1.20 and a beta of 0.93.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALEC. Mizuho set a $1.50 target price on shares of Alector and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. HC Wainwright cut their price target on Alector from $10.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. William Blair cut Alector from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald downgraded shares of Alector from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Insider Transactions at Alector

In other Alector news, Director Paula Hammond sold 14,000 shares of Alector stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $2.36, for a total value of $33,040.00. Following the sale, the director directly owned 74,909 shares in the company, valued at approximately $176,785.24. The trade was a 15.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALEC. Geode Capital Management LLC boosted its stake in Alector by 1.0% during the second quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company’s stock valued at $2,775,000 after buying an additional 19,970 shares during the last quarter. Boothbay Fund Management LLC raised its holdings in shares of Alector by 67.2% during the 2nd quarter. Boothbay Fund Management LLC now owns 458,863 shares of the company’s stock worth $642,000 after acquiring an additional 184,503 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Alector by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 343,909 shares of the company’s stock valued at $481,000 after acquiring an additional 5,927 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Alector by 153.1% in the second quarter. The Manufacturers Life Insurance Company now owns 313,578 shares of the company’s stock valued at $439,000 after purchasing an additional 189,686 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Alector by 199.8% in the third quarter. JPMorgan Chase & Co. now owns 136,385 shares of the company’s stock valued at $404,000 after purchasing an additional 90,894 shares in the last quarter. Hedge funds and other institutional investors own 85.83% 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.