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

Alector (NASDAQ:ALEC) released its quarterly earnings results on Thursday. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08, FiscalAI reports. Alector had a negative return on equity of 235.79% and a negative net margin of 680.83%.The business had revenue of $1.05 million for the quarter, compared to analyst estimates of $9.67 million.

Alector Trading Down 13.9%

Shares of ALEC opened at $2.10 on Friday. The stock’s fifty day simple moving average is $2.31 and its 200-day simple moving average is $1.87. The firm has a market capitalization of $233.16 million, a PE ratio of -1.76 and a beta of 0.64. Alector has a 12-month low of $1.01 and a 12-month high of $3.40. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.30.

Institutional Trading of Alector

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Alector by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock valued at $17,863,000 after purchasing an additional 46,955 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Alector during the fourth quarter worth approximately $5,094,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Alector by 76.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,173,202 shares of the company’s stock worth $3,390,000 after buying an additional 942,228 shares during the last quarter. Ikarian Capital LLC lifted its holdings in Alector by 174.0% in the fourth quarter. Ikarian Capital LLC now owns 2,082,606 shares of the company’s stock valued at $3,249,000 after buying an additional 1,322,606 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Alector by 11.5% in the fourth quarter. Geode Capital Management LLC now owns 2,075,220 shares of the company’s stock valued at $3,238,000 after buying an additional 213,962 shares during the period. 85.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ALEC. Cantor Fitzgerald raised Alector from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alector in a report on Monday. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley restated an “underweight” rating and issued a $2.00 price objective on shares of Alector in a research report on Monday. Finally, BTIG Research upgraded shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.63.

About Alector

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.