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

Alector (NASDAQ:ALEC) released 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 company had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $9.67 million.

Alector Stock Performance

ALEC stock traded down $0.13 during trading on Thursday, reaching $2.44. The stock had a trading volume of 276,542 shares, compared to its average volume of 469,213. Alector has a 52 week low of $0.97 and a 52 week high of $3.40. The stock’s 50 day moving average is $2.31 and its two-hundred day moving average is $1.87. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.30. The firm has a market cap of $270.91 million, a PE ratio of -1.76 and a beta of 0.64.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. bought a new position in Alector in the second quarter valued at about $30,000. Virtu Financial LLC bought a new position in Alector in the fourth quarter valued at about $34,000. Dynamic Technology Lab Private Ltd bought a new position in Alector in the fourth quarter valued at about $40,000. Oxford Asset Management LLP bought a new position in Alector in the fourth quarter valued at about $67,000. Finally, Quadrature Capital Ltd bought a new position in Alector in the fourth quarter valued at about $97,000. Institutional investors own 85.83% of the company’s stock.

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.