Alector (NASDAQ:ALEC) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Alector (NASDAQ:ALEC) issued its quarterly earnings data on Wednesday. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10, Zacks reports. Alector had a negative net margin of 290.66% and a negative return on equity of 102.63%. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million.

Alector Trading Up 2.0 %

Alector stock traded up $0.11 during mid-day trading on Friday, hitting $5.75. The company had a trading volume of 634,576 shares, compared to its average volume of 621,828. The company has a market capitalization of $559.59 million, a price-to-earnings ratio of -3.19 and a beta of 0.66. The company’s fifty day moving average is $5.07 and its 200-day moving average is $5.12. Alector has a 12-month low of $3.66 and a 12-month high of $8.90.

Analyst Upgrades and Downgrades

ALEC has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Alector in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alector currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Insiders Place Their Bets

In other news, CEO Arnon Rosenthal sold 26,499 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total transaction of $129,315.12. Following the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at $9,509,880.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alector news, insider Sara Kenkare-Mitra sold 13,926 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, the insider now directly owns 291,715 shares of the company’s stock, valued at $1,423,569.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 26,499 shares of Alector stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the sale, the chief executive officer now owns 1,948,746 shares in the company, valued at approximately $9,509,880.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,222 shares of company stock worth $286,013. Company 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.