Alector (ALEC) Projected to Post Quarterly Earnings on Wednesday

Alector (NASDAQ:ALEC) is projected to announce its earnings results 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. Investors interested in participating in the company’s conference call can do so using this link.

Alector Trading Up 0.5 %

Shares of NASDAQ:ALEC opened at $1.87 on Monday. Alector has a 12-month low of $1.55 and a 12-month high of $7.58. The business’s fifty day simple moving average is $1.79 and its 200-day simple moving average is $3.60. The company has a market capitalization of $183.13 million, a PE ratio of -1.10 and a beta of 0.61.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ALEC shares. Morgan Stanley downgraded Alector from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $10.00 to $3.00 in a report on Tuesday, November 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Tuesday, November 26th. Stifel Nicolaus downgraded Alector from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a report on Monday, December 16th. Bank of America downgraded Alector from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $9.00 to $1.00 in a research note on Wednesday, December 4th. Finally, BTIG Research dropped their target price on Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Alector presently has an average rating of “Hold” and an average price target of $3.75.

Insider Buying and Selling

In other Alector news, CFO Marc Grasso sold 16,489 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $41,552.28. Following the sale, the chief financial officer now owns 330,651 shares in the company, valued at approximately $833,240.52. The trade was a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 52,172 shares of the business’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 $131,473.44. Following the sale, the chief executive officer now owns 2,507,074 shares in the company, 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. Insiders have sold a total of 95,161 shares of company stock worth $239,806 in the last ninety days. 9.10% of the stock is owned by insiders.

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.