Alector (ALEC) to Release Earnings on Wednesday

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

Alector Stock Down 4.8 %

Shares of NASDAQ:ALEC opened at $1.78 on Tuesday. The firm has a market cap of $174.32 million, a price-to-earnings ratio of -1.05 and a beta of 0.61. Alector has a 12 month low of $1.55 and a 12 month high of $7.58. The company’s fifty day simple moving average is $1.78 and its 200 day simple moving average is $3.58.

Insider Transactions at Alector

In related news, CFO Marc Grasso sold 16,489 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $41,552.28. Following the transaction, the chief financial officer now owns 330,651 shares in the company, valued at approximately $833,240.52. This represents a 4.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Kenkare-Mitra sold 26,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $66,780.00. Following the completion of the transaction, the insider now owns 565,215 shares in the company, valued at approximately $1,424,341.80. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,161 shares of company stock worth $239,806 in the last ninety days. Insiders own 9.10% of the company’s stock.

Wall Street Analyst Weigh In

ALEC has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Stifel Nicolaus downgraded shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Monday, December 16th. Mizuho downgraded shares of Alector from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $2.50 in a research report on Tuesday, December 17th. Morgan Stanley downgraded 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. Finally, BTIG Research decreased their price objective on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alector currently has a consensus rating of “Hold” and an average price target 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.