Alector (ALEC) Projected to Post Quarterly Earnings on Wednesday

Alector (NASDAQ:ALEC) is anticipated to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Alector to post earnings of ($0.61) per share and revenue of $20.41 million for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Alector Trading Up 0.5 %

NASDAQ ALEC opened at $1.87 on Monday. The stock has a market capitalization of $183.13 million, a price-to-earnings ratio of -1.10 and a beta of 0.61. Alector has a twelve month low of $1.55 and a twelve month high of $7.58. The stock has a 50-day moving average of $1.79 and a 200 day moving average of $3.60.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALEC. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Mizuho cut Alector from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $9.00 to $2.50 in a report on Tuesday, December 17th. Morgan Stanley cut Alector from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $10.00 to $3.00 in a report on Tuesday, November 26th. HC Wainwright reduced their price target on Alector from $35.00 to $7.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, BTIG Research reduced their price target on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.75.

Insiders Place Their Bets

In other Alector news, CEO Arnon Rosenthal sold 52,172 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares in the company, valued at approximately $6,317,826.48. The trade was a 2.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $66,780.00. Following the completion of the sale, the insider now owns 565,215 shares of the company’s stock, valued at $1,424,341.80. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 95,161 shares of company stock worth $239,806. Corporate insiders own 9.10% of the company’s stock.

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.