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

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

Alector Price Performance

Shares of NASDAQ:ALEC traded up $0.11 during midday trading on Friday, hitting $5.75. The company had a trading volume of 634,576 shares, compared to its average volume of 621,828. The company has a fifty day moving average of $5.07 and a two-hundred day moving average of $5.12. The company has a market cap of $559.59 million, a price-to-earnings ratio of -3.19 and a beta of 0.66. Alector has a 12-month low of $3.66 and a 12-month high of $8.90.

Insider Activity at Alector

In other news, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the transaction, the chief executive officer now directly owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 26,499 shares of the firm’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 $129,315.12. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 58,222 shares of company stock worth $286,013. 9.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ALEC has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Alector in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently 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.