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

Alector (NASDAQ:ALEC) posted its quarterly earnings data on Thursday. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.08, FiscalAI reports. Alector had a negative return on equity of 224.96% and a negative net margin of 679.16%.The business had revenue of $1.05 million for the quarter, compared to the consensus estimate of $9.67 million.

Alector Trading Down 5.1%

Shares of NASDAQ:ALEC traded down $0.13 on Thursday, reaching $2.44. 276,542 shares of the company traded hands, compared to its average volume of 469,213. The business’s 50-day simple moving average is $2.31 and its 200 day simple moving average is $1.87. Alector has a 52 week low of $0.97 and a 52 week high of $3.40. The stock has a market capitalization of $270.91 million, a P/E ratio of -1.76 and a beta of 0.64. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Alector by 0.8% during the third quarter. Vanguard Group Inc. now owns 6,034,659 shares of the company’s stock valued at $17,863,000 after buying an additional 46,955 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Alector during the fourth quarter valued at about $5,094,000. Jacobs Levy Equity Management Inc. grew 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 valued at $3,390,000 after buying an additional 942,228 shares during the last quarter. Ikarian Capital LLC grew its stake in shares of Alector by 174.0% during 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 last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Alector by 11.5% during 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 last quarter. 85.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALEC. Weiss Ratings reissued a “sell (e+)” rating on shares of Alector in a report on Monday. Wall Street Zen cut shares of Alector from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Cantor Fitzgerald raised shares of Alector from a “neutral” rating to an “overweight” rating in a report on Wednesday, April 15th. BTIG Research raised shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Tuesday, March 10th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price target on shares of Alector in a report on Monday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.63.

Alector Company Profile

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.