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

by · The Markets Daily

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

Alector Price Performance

NASDAQ ALEC traded up $0.11 on Friday, hitting $5.75. The stock had a trading volume of 634,576 shares, compared to its average volume of 621,828. Alector has a 52-week low of $3.66 and a 52-week high of $8.90. The business’s fifty day moving average price is $5.07 and its 200 day moving average price is $5.12. The stock has a market cap of $559.59 million, a price-to-earnings ratio of -3.19 and a beta of 0.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ALEC shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. HC Wainwright restated a “buy” rating and set a $35.00 price objective on shares of Alector in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alector currently has a consensus rating of “Buy” and a consensus target price of $17.75.

View Our Latest Stock Report on Alector

Insider Transactions at Alector

In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $129,315.12. Following the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Kenkare-Mitra sold 13,926 shares of Alector stock in a transaction dated 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 directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock valued at $286,013 in the last quarter. 9.10% of the stock is currently owned by corporate insiders.

Alector Company Profile

(Get Free Report)

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.

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