Stock Track | Alector Soars 5% as Earnings Beat Expectations

Stock Track11-07

Shares of Alector Inc. (ALEC) surged 5.34% on November 7, 2024, after the biopharmaceutical company reported better-than-expected earnings for the third quarter ended September 30, 2024.

Alector reported an adjusted loss of $0.43 per share for the quarter, beating analysts' expectations of a $0.53 loss per share. The company's revenue rose 68.4% year-over-year to $15.34 million, slightly below analysts' projections of $15.70 million.

Despite reporting a quarterly loss of $42.22 million, Alector's stronger-than-anticipated earnings per share figure fueled investor optimism, driving the stock's rally on Wednesday. The company's shares had risen by 12.4% in the previous quarter but lost 34.3% year-to-date.

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(ALEC) surged 5.34% on November 7, 2024, after the biopharmaceutical company reported better-than-expected earnings for the third quarter ended September 30, 2024.\nAlector ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ALEC","symbol_name":"Alector Inc.","start_time":0,"source_url":"","article_id":"1166070532","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166070532","pubTimestamp":1730991682,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Alector Inc.  surged 5.34% on November 7, 2024, after the biopharmaceutical company reported better-than-expected earnings for the third quarter ended September 30, 2024.Alector reported an adjusted loss of $0.43 per share for the quarter, beating analysts' expectations of a $0.53 loss per share. 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