FY2029 Earnings Forecast for Alector Issued By HC Wainwright

Alector, Inc. (NASDAQ:ALEC) – HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Alector in a report issued 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 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 research firms have also weighed in on ALEC. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. BTIG Research decreased their target price on shares of Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Bank of America lowered shares of Alector from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $9.00 to $1.00 in a research note on Wednesday, December 4th. Mizuho lowered shares of Alector from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th. Finally, Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $10.00 to $3.00 in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.75.

Alector Price Performance

ALEC opened at $1.64 on Friday. The company’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $3.53. Alector has a 1-year low of $1.55 and a 1-year high of $7.57. The firm has a market capitalization of $160.61 million, a price-to-earnings ratio of -0.96 and a beta of 0.61.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $54.24 million for the quarter, compared to analysts’ expectations of $20.41 million.

Institutional Trading of Alector

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 purchasing an additional 17,509 shares during the period. Velan Capital Investment Management LP purchased a new stake in Alector in the fourth quarter valued at approximately $104,000. Squarepoint Ops LLC purchased a new stake in Alector in the fourth quarter valued at approximately $25,000. Two Sigma Advisers LP raised its position in Alector by 8.9% in the fourth quarter. Two Sigma Advisers LP now owns 429,900 shares of the company’s stock valued at $813,000 after purchasing an additional 35,000 shares during the period. Finally, Two Sigma Investments LP raised its position in Alector by 55.4% in the fourth quarter. Two Sigma Investments LP now owns 407,989 shares of the company’s stock valued at $771,000 after purchasing an additional 145,467 shares during the period. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Insider Activity

In other news, insider Sara Kenkare-Mitra sold 26,500 shares of Alector 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 sale, the insider now owns 565,215 shares of the company’s stock, valued at approximately $1,424,341.80. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marc Grasso sold 16,489 shares of Alector 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 $41,552.28. Following the sale, the chief financial officer now directly owns 330,651 shares in the company, valued at approximately $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 90 days, insiders have sold 95,161 shares of company stock valued at $239,806. 9.10% of the stock is currently owned by company insiders.

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.