Alector (NASDAQ:ALEC – Get Rating) announced its quarterly earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.59, Fidelity Earnings reports. Alector had a net margin of 12.06% and a return on equity of 12.03%.
Alector Stock Up 15.3 %
NASDAQ:ALEC traded up $1.73 on Friday, hitting $13.06. The stock had a trading volume of 818,585 shares, compared to its average volume of 423,741. The business’s 50-day simple moving average is $10.19 and its two-hundred day simple moving average is $12.15. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 33.49 and a beta of 1.08. Alector has a 52-week low of $7.50 and a 52-week high of $29.30.
Hedge Funds Weigh In On Alector
Several institutional investors have recently made changes to their positions in ALEC. Quantbot Technologies LP purchased a new stake in Alector during the first quarter valued at approximately $25,000. Point72 Hong Kong Ltd lifted its position in Alector by 199.1% during the first quarter. Point72 Hong Kong Ltd now owns 9,635 shares of the company’s stock valued at $137,000 after purchasing an additional 6,414 shares in the last quarter. Quantedge Capital Pte Ltd grew its holdings in Alector by 40.9% during the first quarter. Quantedge Capital Pte Ltd now owns 16,200 shares of the company’s stock valued at $231,000 after purchasing an additional 4,700 shares during the period. AlphaCrest Capital Management LLC purchased a new stake in Alector in the first quarter worth about $404,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Alector by 99.4% during the 1st quarter. Panagora Asset Management Inc. now owns 29,286 shares of the company’s stock valued at $417,000 after buying an additional 14,599 shares in the last quarter. Institutional investors own 66.69% of the company’s stock.
Analyst Ratings Changes
Alector Company Profile
Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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.
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