FY2024 Earnings Estimate for Alector Issued By HC Wainwright

Alector, Inc. (NASDAQ:ALEC - Free Report) - Equities researchers at HC Wainwright increased their FY2024 EPS estimates for Alector in a report issued on Thursday, November 7th. HC Wainwright analyst A. Fein now expects that the company will post earnings of ($1.79) per share for the year, up from their prior estimate of ($1.94). HC Wainwright currently has a "Buy" rating and a $35.00 price objective on the stock. The consensus estimate for Alector's current full-year earnings is ($1.92) 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 released its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. The firm had revenue of $15.34 million for the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 102.50%.

Separately, Cantor Fitzgerald reiterated 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, Based on data from MarketBeat.com, Alector currently has a consensus rating of "Buy" and a consensus price target of $17.75.

Alector Stock Up 5.4 %

Shares of Alector stock traded up $0.31 during trading on Monday, reaching $6.06. The company's stock had a trading volume of 752,686 shares, compared to its average volume of 622,427. The company has a 50-day simple moving average of $5.07 and a two-hundred day simple moving average of $5.12. Alector has a 1-year low of $3.66 and a 1-year high of $8.90. The company has a market cap of $593.47 million, a price-to-earnings ratio of -3.56 and a beta of 0.66.

Institutional Investors Weigh In On Alector

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alector in the first quarter worth $40,000. Swiss National Bank boosted its stake in shares of Alector by 6.5% during the 1st quarter. Swiss National Bank now owns 131,900 shares of the company's stock valued at $794,000 after buying an additional 8,000 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Alector during the first quarter worth $760,000. Russell Investments Group Ltd. boosted its position in Alector by 9.9% during the first quarter. Russell Investments Group Ltd. now owns 78,348 shares of the company's stock valued at $472,000 after purchasing an additional 7,066 shares during the last quarter. Finally, 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 purchasing an additional 3,827 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alector

In related news, CEO Arnon Rosenthal sold 26,499 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 $129,315.12. Following the completion of the sale, the chief executive officer now directly owns 1,948,746 shares in the company, valued at approximately $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 can be accessed through the SEC website. In other Alector news, CFO Marc Grasso sold 7,297 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.88, for a total value of $35,609.36. Following the sale, the chief financial officer now directly owns 130,740 shares of the company's stock, valued at $638,011.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the company'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 completion of the sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Insiders have sold 47,722 shares of company stock valued at $232,883 over the last quarter. Corporate 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.