Alector (ALEC) Projected to Post Earnings on Wednesday

Alector (NASDAQ:ALEC - Get Free Report) is expected to be releasing its earnings data before the market opens on Wednesday, February 26th. Analysts expect Alector to post earnings of ($0.61) per share and revenue of $21.31 million for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.

Alector Stock Up 0.5 %

NASDAQ ALEC traded up $0.01 during trading on Friday, hitting $1.87. 461,273 shares of the stock traded hands, compared to its average volume of 591,720. Alector has a 12-month low of $1.55 and a 12-month high of $7.58. The firm has a 50-day simple moving average of $1.79 and a 200-day simple moving average of $3.62. The company has a market capitalization of $183.13 million, a P/E ratio of -1.10 and a beta of 0.61.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

ALEC has been the topic of several research reports. Mizuho cut shares of 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 research report on Tuesday, December 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Alector in a research note on Tuesday, November 26th. Morgan Stanley cut shares of Alector from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. HC Wainwright dropped their price target on Alector from $35.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Finally, Bank of America downgraded Alector from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $9.00 to $1.00 in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Alector has an average rating of "Hold" and an average target price of $3.75.

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.