Q3 2024 Earnings Estimate for Alector, Inc. Issued By William Blair (NASDAQ:ALEC)

Alector, Inc. (NASDAQ:ALEC) – Research analysts at William Blair lowered their Q3 2024 EPS estimates for Alector in a report released on Thursday, August 8th. William Blair analyst M. Minter now expects that the company will earn ($0.50) per share for the quarter, down from their prior forecast of ($0.49). The consensus estimate for Alector’s current full-year earnings is ($1.93) per share. William Blair also issued estimates for Alector’s Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($1.89) EPS, FY2025 earnings at ($1.73) EPS and FY2026 earnings at ($1.38) EPS.

Other research analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Alector in a research report on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Alector Stock Down 0.7 %

ALEC stock opened at $5.07 on Monday. Alector has a twelve month low of $3.66 and a twelve month high of $8.90. The stock has a market capitalization of $488.67 million, a price-to-earnings ratio of -3.67 and a beta of 0.72. The firm’s fifty day simple moving average is $5.09 and its two-hundred day simple moving average is $5.58.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Alector had a negative net margin of 125.11% and a negative return on equity of 71.80%. The company had revenue of $15.08 million for the quarter, compared to the consensus estimate of $16.04 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share.

Hedge Funds Weigh In On Alector

Several hedge funds and other institutional investors have recently bought and sold shares of ALEC. Gladius Capital Management LP acquired a new position in Alector in the 2nd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new position in Alector in the 1st quarter worth approximately $40,000. Lazard Asset Management LLC acquired a new stake in shares of Alector during the 1st quarter worth approximately $59,000. E Fund Management Co. Ltd. acquired a new stake in shares of Alector during the 4th quarter worth approximately $81,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Alector by 89.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,403 shares of the company’s stock worth $111,000 after purchasing an additional 8,670 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Insider Transactions at Alector

In related news, Director Paula Hammond sold 10,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.06, for a total value of $53,130.00. Following the completion of the sale, the director now directly owns 60,209 shares of the company’s stock, valued at $304,657.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Marc Grasso sold 6,920 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $33,216.00. Following the completion of the transaction, the chief financial officer now directly owns 138,037 shares of the company’s stock, valued at approximately $662,577.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula Hammond sold 10,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.06, for a total transaction of $53,130.00. Following the completion of the transaction, the director now directly owns 60,209 shares of the company’s stock, valued at $304,657.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,595 shares of company stock worth $245,586. 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.