FY2029 Earnings Forecast for Alector Issued By HC Wainwright

Alector, Inc. (NASDAQ:ALEC) – Analysts at HC Wainwright issued their FY2029 earnings estimates for Alector in a note issued to investors on Thursday, February 27th. HC Wainwright analyst A. Fein expects that the company will post earnings of ($0.72) per share for the year. HC Wainwright currently has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Alector’s current full-year earnings is ($1.88) per share.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.59. The business had revenue of $54.24 million during the quarter, compared to the consensus estimate of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%.

A number of other equities analysts also recently commented on ALEC. Morgan Stanley downgraded shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Mizuho downgraded shares of Alector from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. BTIG Research lowered their target price on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a research note 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 note on Monday, December 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.75.

Alector Trading Down 1.2 %

Shares of ALEC stock opened at $1.64 on Friday. The firm has a fifty day moving average price of $1.78 and a 200 day moving average price of $3.53. The company has a market cap of $160.61 million, a P/E ratio of -0.96 and a beta of 0.61. Alector has a 12 month low of $1.55 and a 12 month high of $7.57.

Institutional Investors Weigh In On Alector

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alector by 12.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,570 shares of the company’s stock valued at $303,000 after buying an additional 17,509 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of Alector in the fourth quarter valued at about $104,000. Squarepoint Ops LLC purchased a new stake in shares of Alector in the fourth quarter valued at about $25,000. Two Sigma Advisers LP raised its holdings in Alector by 8.9% during the fourth quarter. Two Sigma Advisers LP now owns 429,900 shares of the company’s stock worth $813,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Alector by 55.4% during the fourth quarter. Two Sigma Investments LP now owns 407,989 shares of the company’s stock worth $771,000 after purchasing an additional 145,467 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alector

In other news, 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 value 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 represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arnon Rosenthal sold 52,172 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 $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares of the company’s stock, valued at $6,317,826.48. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,161 shares of company stock valued at $239,806 over the last ninety days. Insiders own 9.10% of the company’s stock.

About Alector

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.