Alector (NASDAQ:ALEC) Trading Down 2.5% - Here's What Happened

Key Points

• ALEC traded down about 2.5% to $2.35 during mid-day on volume of 582,330 shares, roughly 32% below its average session volume.
• Analyst coverage is mixed—two Buys, four Holds and two Sells—resulting in a consensus rating of Hold and a $4.17 consensus price target, with recent notable calls including a BTIG upgrade to Buy ($6 PT) and Morgan Stanley reiterating Underweight.
• The company beat quarterly estimates (EPS -$0.34 vs. -$0.39 expected; revenue $6.24M vs. $1.78M expected) but remains deeply unprofitable; Alector is a clinical-stage biotech developing immuno‑neurology therapies, with lead programs AL001 and AL002.

Alector, Inc. (NASDAQ:ALEC - Get Free Report) traded down 2.5% during mid-day trading on Monday . The stock traded as low as $2.33 and last traded at $2.35. 582,330 shares were traded during mid-day trading, a decline of 32% from the average session volume of 854,384 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

A number of brokerages recently weighed in on ALEC. Morgan Stanley reiterated an "underweight" rating on shares of Alector in a research report on Thursday, January 8th. BTIG Research upgraded shares of Alector from a "neutral" rating to a "buy" rating and set a $6.00 price target on the stock in a research report on Tuesday, March 10th. Wall Street Zen downgraded shares of Alector from a "hold" rating to a "sell" rating in a research report on Sunday, March 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Alector in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.17.

Alector Stock Down 2.5%

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.83 and a quick ratio of 3.83. The firm's 50 day moving average is $2.10 and its two-hundred day moving average is $1.96. The firm has a market capitalization of $259.35 million, a P/E ratio of -1.69 and a beta of 0.58.

Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.05. Alector had a negative net margin of 679.16% and a negative return on equity of 224.96%. The firm had revenue of $6.24 million during the quarter, compared to analysts' expectations of $1.78 million. Research analysts predict that Alector, Inc. will post -1.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its position in Alector by 4.7% during the 1st quarter. Jane Street Group LLC now owns 256,551 shares of the company's stock valued at $316,000 after purchasing an additional 11,618 shares during the period. Strs Ohio bought a new position in shares of Alector during the 1st quarter worth approximately $126,000. Geode Capital Management LLC boosted its holdings in shares of Alector by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company's stock worth $2,775,000 after buying an additional 19,970 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Alector in the 2nd quarter worth $30,000. Finally, XTX Topco Ltd lifted its holdings in shares of Alector by 125.2% in the 2nd quarter. XTX Topco Ltd now owns 73,338 shares of the company's stock worth $103,000 after purchasing an additional 40,767 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company's stock.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector's approach aims to harness the body's natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer's disease and frontotemporal dementia.

The company's pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer's disease studies.

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