Alector, Inc. (NASDAQ:ALEC – Free Report) – Equities researchers at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for shares of Alector in a note issued to investors on Thursday, November 7th. HC Wainwright analyst A. Fein now anticipates that the company will earn ($1.79) per share for the year, up from their previous estimate of ($1.94). HC Wainwright currently has a “Buy” rating and a $35.00 target price on the stock. The consensus estimate for Alector’s current full-year earnings is ($1.90) per share. HC Wainwright also issued estimates for Alector’s FY2025 earnings at ($2.44) EPS, FY2026 earnings at ($2.52) EPS, FY2027 earnings at ($1.66) EPS and FY2028 earnings at $1.14 EPS.
Alector (NASDAQ:ALEC – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The firm had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $16.33 million.
Check Out Our Latest Research Report on ALEC
Alector Stock Down 8.4 %
ALEC stock opened at $5.55 on Monday. The company has a market cap of $543.51 million, a P/E ratio of -3.26 and a beta of 0.66. Alector has a twelve month low of $3.66 and a twelve month high of $8.90. The business’s fifty day moving average is $5.10 and its 200-day moving average is $5.13.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its position in Alector by 4.1% during the 2nd quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after acquiring an additional 2,709 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in Alector by 2.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after purchasing an additional 3,500 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Alector by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock worth $513,000 after acquiring an additional 3,790 shares in the last quarter. ProShare Advisors LLC grew its stake in Alector by 24.1% in the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock valued at $119,000 after acquiring an additional 3,827 shares during the period. Finally, American International Group Inc. raised its holdings in Alector by 13.0% during the first quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after buying an additional 4,105 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.
Insider Buying and Selling
In other Alector news, CEO Arnon Rosenthal sold 26,499 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $129,315.12. Following the transaction, the chief executive officer now directly owns 1,948,746 shares in the company, valued at $9,509,880.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the completion of the transaction, the insider now directly owns 291,715 shares in the company, valued at approximately $1,423,569.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of the company’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 sale, the chief executive officer now owns 1,948,746 shares of the company’s stock, valued at $9,509,880.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,722 shares of company stock worth $232,883. Insiders own 9.10% of the company’s stock.
Alector Company Profile
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.
See Also
- Five stocks we like better than Alector
- How to Invest in Biotech Stocks
- Home Depot Stock: Targeting 12% in 2024 and 25% More in 2025
- Best Aerospace Stocks Investing
- Is Tesla’s Valuation a Bubble or Backed by Real Growth?
- What is Put Option Volume?
- Trucking Stocks Led the Pack Last Week: Can They Keep Rolling?
Receive News & Ratings for Alector Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alector and related companies with MarketBeat.com's FREE daily email newsletter.