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

Alector (NASDAQ:ALEC) issued its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08, FiscalAI reports. The firm had revenue of $1.05 million for the quarter, compared to the consensus estimate of $9.67 million. Alector had a negative net margin of 679.16% and a negative return on equity of 224.96%.

Alector Stock Down 5.1%

Alector stock opened at $2.44 on Friday. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.30. Alector has a 12-month low of $0.97 and a 12-month high of $3.40. The firm’s fifty day moving average is $2.31 and its 200 day moving average is $1.87. The company has a market capitalization of $270.91 million, a PE ratio of -1.76 and a beta of 0.64.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALEC. Prudential Financial Inc. acquired a new position in shares of Alector during the 2nd quarter valued at $30,000. Virtu Financial LLC acquired a new position in shares of Alector during the 4th quarter valued at $34,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Alector during the 4th quarter valued at $40,000. Oxford Asset Management LLP acquired a new position in shares of Alector during the 4th quarter valued at $67,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Alector during the 4th quarter valued at $97,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ALEC has been the topic of a number of recent analyst reports. Morgan Stanley restated an “underweight” rating and issued a $2.00 price target on shares of Alector in a research report on Monday. BTIG Research upgraded shares of Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Tuesday, March 10th. Wall Street Zen downgraded shares of Alector from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Alector in a research report on Monday. Finally, Cantor Fitzgerald upgraded shares of Alector from a “neutral” rating to an “overweight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.