FY2029 Earnings Forecast for Alector Issued By HC Wainwright

Alector, Inc. (NASDAQ:ALEC) – Research analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Alector in a research report issued to clients and investors on Thursday, February 27th. HC Wainwright analyst A. Fein forecasts 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 target on the stock. The consensus estimate for Alector’s current full-year earnings is ($1.88) per share.

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

Alector Stock Performance

Shares of ALEC opened at $1.64 on Friday. The firm has a market cap of $162.50 million, a P/E ratio of -0.96 and a beta of 0.61. Alector has a 52 week low of $1.55 and a 52 week high of $7.57. The firm’s 50-day simple moving average is $1.77 and its 200 day simple moving average is $3.51.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.59. The firm had revenue of $54.24 million for 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%.

Insider Transactions at Alector

In related 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 transaction of $66,780.00. Following the completion of the sale, the insider now owns 565,215 shares of the company’s stock, valued at $1,424,341.80. This represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arnon Rosenthal sold 52,172 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $131,473.44. Following the sale, the chief executive officer now owns 2,507,074 shares in the company, 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. In the last three months, insiders have sold 95,161 shares of company stock valued at $239,806. 9.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALEC. Squarepoint Ops LLC acquired a new stake in shares of Alector in the 4th quarter valued at $25,000. Tema Etfs LLC acquired a new stake in Alector in the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC grew its position in Alector by 71.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company’s stock valued at $28,000 after acquiring an additional 6,096 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Alector during the third quarter worth about $29,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Alector in the third quarter worth about $40,000. 85.83% of the stock is currently owned by institutional investors and hedge funds.

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.