HC Wainwright Weighs in on Alector FY2029 Earnings

Alector, Inc. (NASDAQ:ALEC) – 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 expects that the company will post earnings per share of ($0.72) 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.

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

ALEC has been the subject of several other research reports. BTIG Research dropped their price target 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 lowered 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. Mizuho cut Alector from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $2.50 in a research note on Tuesday, December 17th. Finally, Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $9.00 to $1.00 in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.75.

Alector Price Performance

NASDAQ:ALEC opened at $1.66 on Friday. Alector has a one year low of $1.55 and a one year high of $7.58. The company has a market cap of $162.57 million, a PE ratio of -0.98 and a beta of 0.61. The firm’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $3.53.

Insider Transactions at Alector

In other news, insider Sara Kenkare-Mitra sold 26,500 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 4.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marc Grasso sold 16,489 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total transaction of $41,552.28. Following the transaction, the chief financial officer now owns 330,651 shares in the company, valued at $833,240.52. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,161 shares of company stock valued at $239,806. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Alector by 64.7% during the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock valued at $12,716,000 after buying an additional 1,072,298 shares during the last quarter. Creative Planning boosted its stake in Alector by 54.2% during the 3rd quarter. Creative Planning now owns 19,117 shares of the company’s stock valued at $89,000 after purchasing an additional 6,723 shares during the last quarter. Barclays PLC boosted its stake in Alector by 132.4% during the 3rd quarter. Barclays PLC now owns 176,800 shares of the company’s stock valued at $824,000 after purchasing an additional 100,731 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in Alector during the 4th quarter worth approximately $47,000. Finally, SG Americas Securities LLC raised its stake in shares of Alector by 27.9% in the fourth quarter. SG Americas Securities LLC now owns 39,334 shares of the company’s stock worth $74,000 after purchasing an additional 8,581 shares during the last quarter. Institutional investors own 85.83% 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.