Alector (NASDAQ:ALEC) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Alector (NASDAQ:ALEC) posted its 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 during the quarter, compared to analyst estimates of $16.33 million.

Alector Stock Up 2.0 %

Alector stock traded up $0.11 during mid-day trading on Friday, hitting $5.75. The company’s stock had a trading volume of 634,576 shares, compared to its average volume of 621,828. The stock has a market capitalization of $559.59 million, a P/E ratio of -3.19 and a beta of 0.66. The stock’s fifty day moving average price is $5.07 and its two-hundred day moving average price is $5.12. Alector has a twelve month low of $3.66 and a twelve month high of $8.90.

Insider Buying and Selling

In other Alector news, CFO Marc Grasso sold 7,297 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the completion of the sale, the chief financial officer now directly owns 130,740 shares of the company’s stock, valued at approximately $638,011.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Sara Kenkare-Mitra sold 13,926 shares of the firm’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 $67,958.88. Following the completion of the sale, the insider now directly owns 291,715 shares in the company, valued at approximately $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marc Grasso sold 7,297 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 $35,609.36. Following the transaction, the chief financial officer now directly owns 130,740 shares in the company, valued at $638,011.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,222 shares of company stock worth $286,013 in the last three months. 9.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

About Alector

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.