Alector (NASDAQ:ALEC) Announces Earnings Results, Beats Estimates By $0.09 EPS

Alector (NASDAQ:ALEC) posted its earnings results on Wednesday. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09, Zacks reports. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. The company had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.04 million. During the same quarter in the prior year, the business earned $0.02 earnings per share.

Alector Stock Down 0.8 %

Shares of Alector stock traded down $0.04 during midday trading on Friday, hitting $5.06. The company had a trading volume of 91,997 shares, compared to its average volume of 658,808. The company has a fifty day simple moving average of $5.08 and a 200 day simple moving average of $5.61. The stock has a market cap of $487.71 million, a price-to-earnings ratio of -3.70 and a beta of 0.72. Alector has a 12-month low of $3.66 and a 12-month high of $8.90.

Insiders Place Their Bets

In related news, CFO Marc Grasso sold 6,920 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $33,216.00. Following the completion of the transaction, the chief financial officer now owns 138,037 shares in the company, valued at approximately $662,577.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the transaction, the chief executive officer now directly owns 1,975,245 shares in the company, valued at $9,481,176. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc Grasso sold 6,920 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $4.80, for a total value of $33,216.00. Following the sale, the chief financial officer now directly owns 138,037 shares in the company, valued at $662,577.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,095 shares of company stock valued at $192,456. Insiders own 9.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALEC. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a report on Monday, July 29th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Alector in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

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.