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ALEC · NASDAQ · Biotechnology

Alector

Develops brain-penetrant therapies for neurodegenerative disease through its ABC delivery platform.

$2.34

After-hours close+0.01 (+0.43%)

At close$2.33(−2.51%)

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Profile

Alector, Inc.ALECHealth Care

Develops neurodegenerative-disease therapies around Alector Brain Carrier, with current work in ABC-enabled antibodies, enzymes, and siRNA. The business has no approved products and depends on collaboration funding, clinical progress, and competition in blood-brain-barrier delivery.

Develops therapies for neurodegenerative disease around Alector Brain Carrier, a blood-brain-barrier delivery platform for antibodies, enzymes, and siRNA. Current ABC-enabled programs include AL037/AL137-ABC in Alzheimer's disease, AL050-ABC in GCase-linked disorders, and AL064/AL164-ABC in tauopathies.

Operates as a one-segment, South San Francisco biotech with no approved products. Revenue comes from collaborations and financing rather than product sales, with GSK and a prior AbbVie alliance shaping the funding history.

Recent late-stage progranulin setbacks reset the portfolio toward wholly owned preclinical and research programs. Execution depends on IND-enabling work, trial progress, and competition with other blood-brain-barrier delivery platforms.

Company facts

CEOArnon Rosenthal, Ph.D.

ListedFeb 7, 2019

ExchangeNASDAQ

HeadquartersSouth San Francisco, CA

CountryUnited States

Employees103

CIK0001653087

ISINUS0144421072

Key statistics

Market cap$259.8M

EPS (ttm)−$1.10

P/E (ttm)−2.13

ROE-531.0%

P/B−26.10

P/S18.74

Dividend yield—

Beta1.76vs XLV 0.89

Year to date +52.3% · Average volume (30d) 1.2M

Analysts

Price target, next 12 months$2.00−14.5%Median of 14 analysts · vs the Aug 28 close

ConsensusBuy9 of 14 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $2.34

High$2.00−14.5%

Median$2.00−14.5%

Low$2.00−14.5%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Target
May 4, 2026	Morgan Stanley	Target			$2
Apr 15, 2026	Cantor Fitzgerald	Upgrade	Neutral	Overweight
Mar 10, 2026	BTIG	Upgrade	Neutral	Buy
Oct 22, 2025	H.C. Wainwright	Target			$5
Oct 22, 2025	Mizuho Securities	Target			$1.50

Earnings

EPS

Estimate−$0.24

ReportedDue Nov 5, 2026

Revenue

Estimate$2.9M

ReportedDue Nov 5, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 6, 2026Q2 FY26	−$0.23	−$0.21	+8.1%	$1.7M	$3.3M	+93.8%	−2.73%
May 7, 2026Q1 FY26	−$0.35	−$0.21	+40.0%	$9.7M	$1.0M	−89.2%	−13.93%
Feb 25, 2026Q4 FY25	−$0.39	−$0.34	+12.8%	$2.0M	$6.2M	+218.6%	+7.11%
Nov 6, 2025Q3 FY25	−$0.42	−$0.34	+19.0%	$1.8M	$3.3M	+82.8%	−1.54%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$3.7M	$7.9M	$3.3M	$6.2M	$1.0M	$3.3M
Gross profit	−$30.0M	−$19.7M	−$26.1M	−$26.2M	−$1.0M	$3.3M
Operating income	−$44.7M	−$34.1M	−$37.6M	−$39.6M	−$25.2M	−$24.4M
Net income	−$40.5M	−$30.5M	−$34.7M	−$37.3M	−$22.9M	−$23.0M
Diluted EPS	−$0.41	−$0.30	−$0.34	−$0.34	−$0.21	−$0.21
Gross margin	-815.7%	-250.7%	-800.3%	-420.5%	-99.2%	100.0%
Operating margin	-1,216.5%	-433.6%	-1,153.6%	-634.4%	-2,411.0%	-734.7%

Fiscal years (4-quarter sums)FY21 $207.1M · FY22 $133.6M · FY23 $97.1M · FY24 $100.6M · FY25 $21.0M

Balance sheet, Jun 30, 2026Cash & short-term investments $172.8M · Total debt $32.8M · Total assets $202.9M · Shareholders' equity −$10.0M

Dividends

No dividends on record.

Ownership

Institutions 79.62%88.40M sharesInsiders 5.32%5.91M sharesOther 15.06%16.72M shares

Shares outstanding 111.03M · Float 77.73M · 70.0% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
TCG Crossover Management, LLC	10.00M	9.01%	13F	May 15, 2026
RA Capital Management, L.P.	9.70M	9.90%	13G	Dec 6, 2024
BlackRock, Inc.	5.78M	5.20%	13G	Apr 27, 2026
Acadian Asset Management LLC	4.04M	3.64%	13F	May 13, 2026
Foresite Capital Management Iv, LLC	3.89M	3.50%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Apr 16, 2026	Grace Wong-Sarad	officer: Principal Accounting Officer	−1,820	$2.65
Mar 10, 2026	Grace Wong-Sarad	officer: Principal Accounting Officer	−1,000	$2.65
Mar 2, 2026	Neil Lindsay Berkley	officer: CFO & Chief Business Officer	−29,649	$2.12
Mar 2, 2026	Arnon Rosenthal	director, officer: Chief Executive Officer	−81,864	$2.12
Mar 2, 2026	Grace Wong-Sarad	officer: Principal Accounting Officer	−8,071	$2.12