ALEC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $1.81

Market Cap (MRQ) $202M

P/E (TTM) -1.6

EPS (TTM) $-1.10

Revenue (TTM) $14M

ROE (TTM) -385.1%

Debt/Equity (MRQ) -1.0

52W Range $1–$3

ALEC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

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About Alector, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

Wikidata ↗

sectorHealthcare industryBiotechnology employees103 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$21M

2017-12-31 → 2025-12-31

EPS$-1.39

2020-12-31 → 2025-12-31

Free Cash Flow$-184M

2019-12-31 → 2025-12-31

Net margin-851.7%

2019-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	ALEC	5Y avg	Peer Median	Verdict
P/E (TTM)	-1.65Y avg ≈-11.9	≈-11.9	·	·
P/S (TTM)	14.65Y avg ≈6.1	≈6.1	16.0	Overvalued
P/B (MRQ)	-20.35Y avg ≈4.2	≈4.2	·	·
EV / EBITDA	0.3	·	·	·
Price / FCF (TTM)	-1.35Y avg ≈-6.2	≈-6.2	·	·
Price / Cash Flow (TTM)	-1.35Y avg ≈-7.4	≈-7.4	·	·
EV / Revenue (TTM)	2.8	·	·	·
EV / FCF (TTM)	-0.2	·	·	·
Price / Tangible Book	6.65Y avg ≈4.2	≈4.2	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	ALEC	5Y avg	Peer Median	Verdict
Operating Margin (TTM)	-914.1%5Y avg ≈-232.6%	≈-232.6%	-1357.2%	Top tier
EBITDA Margin	-741.3%5Y avg ≈-232.6%	≈-232.6%	-1356.6%	Top tier
Pretax Margin (TTM)	-849.4%	·	-1167.4%	Top tier
Net Profit Margin (TTM)	-851.7%5Y avg ≈-209.8%	≈-209.8%	-1615.2%	Top tier
ROA (TTM)	-42.1%5Y avg ≈-20.0%	≈-20.0%	-24.7%	Weak
ROE (TTM)	-385.1%5Y avg ≈-106.8%	≈-106.8%	-24.6%	Weak
ROIC	-387.2%	·	-51.5%	Weak

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	ALEC	5Y avg	Peer Median	Verdict
Debt / Equity (MRQ)	-1.0	·	-0.2	Low debt
Current Ratio (MRQ)	5.35Y avg ≈4.7	≈4.7	7.9	Low liquidity
Quick Ratio	3.75Y avg ≈4.6	≈4.6	7.4	Low liquidity
Long-Term Debt / Equity (MRQ)	-0.0	·	·	·

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	ALEC	5Y avg	Peer Median	Verdict
Revenue YoY	-79.1%5Y avg ≈148.6%	≈148.6%	·	·
Revenue CAGR 3Y	-46.0%5Y avg ≈-0.35%	≈-0.35%	·	·
Revenue CAGR 5Y	-0.05%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	ALEC	5Y avg	Peer Median	Verdict
EPS (Diluted)	$-1.395Y avg ≈$-1.25	≈$-1.25	·	·
Revenue / Share	$0.205Y avg ≈$1.01	≈$1.01	·	·
Cash Flow / Share	$-1.795Y avg ≈$-1.65	≈$-1.65	·	·
Cash / Share	$0.605Y avg ≈$1.57	≈$1.57	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	5Y trend	ALEC	5Y avg	Peer Median	Verdict
Asset Turnover		0.15Y avg ≈0.2	≈0.2	0.1	Weak
Revenue / Employee		≈$204.3K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise 22.4%

Next Report Nov 04, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 5, 2026	$-0.21	$-0.23	9.7%
March 31, 2026		$-0.21	$-0.35	39.9%
Dec. 31, 2025		$-0.34	$-0.39	13.1%
Sept. 30, 2025		$-0.34	$-0.42	18.2%
June 30, 2025		$-0.30	$-0.47	36.1%
March 31, 2025		$-0.41	$-0.49	17.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 14

Metric	2025	2024	2023	2022	2021	2020	2019	2018
Revenue	$21M	$101M	$97M	$134M	$207M	$21M	$21M	$28M
R&D Expense	$123M	$186M	$192M	$210M	$189M	$157M	$101M	$73M
SG&A Expense	$54M	$60M	$57M	$61M	$55M	$59M	$35M	$12M
Operating Expenses	$177M	$246M	$249M	$271M	$244M	$216M	$136M	$85M
Operating Income	$-156M	$-145M	$-152M	$-138M	$-37M	$-195M	$-114M	$-57M
Other Non-op	$13M	$26M	$27M	$8M	$1M	$5M	$9M	$5M
Pretax Income	$-143M	$-119M	$-125M	$-130M	·	·	·	·
Income Tax	$168.0K	$128.0K	$5M	$3M	$0	$0	$0	·
Net Income	$-143M	$-119M	$-130M	$-133M	$-36M	$-190M	$-105M	$-52M
EPS (Basic)	$-1.39	$-1.23	$-1.56	$-1.62	$-0.45	$-2.45	·	·
EPS (Diluted)	$-1.39	$-1.23	$-1.56	$-1.62	$-0.45	$-2.45	·	·
Shares (Basic)	102,998,978	96,588,177	83,733,730	82,467,587	80,416,936	77,758,806	·	·
Shares (Diluted)	102,998,978	96,588,177	83,733,730	82,467,587	80,416,936	77,758,806	·	·
EBITDA	$-156M	$-145M	$-152M	$-138M	$-37M	·	$-114M	·

Balance Sheet 25

Metric	2025	2024	2023	2022	2021	2020	2019	2018
Cash & Equivalents	$66M	$33M	$75M	$154M	$329M	$50M	$90M	$65M
Short-term Investments	$190M	$380M	$474M	$559M	$406M	$363M	$263M	$225M
Prepaid Expense	$10M	$11M	$17M	$11M	$7M	$8M	$4M	$3M
Current Assets	$266M	$425M	$566M	$726M	$750M	$422M	$357M	$293M
PP&E (Net)	$11M	$17M	$22M	$26M	$27M	$30M	$34M	$11M
PP&E (Gross)	$48M	$50M	$50M	$48M	$45M	$41M	$39M	$13M
Accum. Depreciation	$37M	$33M	$28M	$23M	$17M	$11M	$5M	$2M
Other Non-current Assets	$386.0K	$5M	$7M	$6M	$6M	$3M	$676.0K	$3M
Total Assets	$293M	$468M	$622M	$788M	$815M	$488M	$422M	$308M
Accounts Payable	$2M	$2M	$4M	$4M	$5M	$3M	$278.0K	$126.0K
Accrued Liabilities	$19M	$29M	$30M	$28M	$27M	$23M	$18M	$8M
Short-term Debt	$366.0K	$0	·	·	·	·	·	·
Current Liabilities	$70M	$125M	$178M	$94M	$140M	$68M	$62M	$48M
Capital Leases	$17M	$24M	$30M	$35M	$40M	$44M	$41M	·
Other Non-current Liabilities	$2M	$1M	$1M	$759.0K	$158.0K	$472.0K	$493.0K	$96.0K
Total Liabilities	$263M	$342M	$488M	$573M	$514M	$221M	$227M	$195M
Long-term Debt	$10M	$10M	·	·	·	·	·	·
Total Debt	$10M	$9M	·	·	·	·	·	·
Common Stock	$11.0K	$9.0K	$8.0K	$8.0K	$8.0K	$8.0K	$7.0K	$1.0K
Paid-in Capital	$1.00B	$956M	$844M	$799M	$748M	$677M	$414M	$17M
Retained Earnings	$-972M	$-829M	$-710M	$-580M	$-446M	$-410M	$-220M	$-114M
AOCI	$166.0K	$261.0K	$184.0K	$-5M	$-943.0K	$614.0K	$142.0K	$-42.0K
Stockholders' Equity	$31M	$127M	$134M	$214M	$301M	$268M	$195M	$-97M
Liabilities + Equity	$293M	$468M	$622M	$788M	$815M	$488M	$422M	$308M
Shares Outstanding	110,362,581	99,085,888	84,879,693	82,895,718	81,986,192	79,316,261	69,052,873	13,764,829

Cash Flow 12

Metric	2025	2024	2023	2022	2021	2020	2019	2018
D&A	$6M	$5M	$6M	$6M	$6M	$6M	$4M	$1M
Stock-based Comp	$27M	$39M	$43M	$46M	$41M	$31M	$16M	$7M
Restructuring	$2M	$4M	$2M	·	·	·	·	·
Operating Cash Flow	$-184M	$-230M	$-184M	$-20M	$299M	$-167M	$-99M	$127M
CapEx	$41.0K	$1M	$2M	$4M	$3M	$5M	$15M	$2M
Investing Cash Flow	$197M	$107M	$102M	$-159M	$-50M	$-105M	$-49M	$-224M
Stock Issued	$20M	$71M	·	·	·	·	·	·
Net Stock Activity	$20M	·	·	·	·	·	·	·
Financing Cash Flow	$20M	$82M	$3M	$5M	$30M	$232M	$172M	$131M
Net Change in Cash	$33M	$-41M	$-80M	$-175M	$279M	$-40M	$24M	$34M
Taxes Paid	$-880.0K	$-100.0K	·	·	·	·	·	·
Free Cash Flow	$-184M	$-231M	$-187M	$-24M	$295M	·	$-115M	·

Profitability 7

Metric	2025	2024	2023	2022	2021	2020	2019	2018
Operating Margin	-741.3%	-144.1%	-156.3%	-103.2%	-18.0%	·	-539.2%	·
Net Margin	-679.2%	-118.3%	-134.3%	-99.8%	-17.5%	·	-496.6%	·
Pretax Margin	-678.4%	-118.2%	·	·	·	·	·	·
EBITDA Margin	-741.3%	-144.1%	-156.3%	-103.2%	-18.0%	·	-539.2%	·
ROA	-37.5%	-21.8%	-18.5%	-16.6%	-5.6%	·	-28.9%	·
ROE	-280.7%	-96.9%	-87.9%	-57.0%	-11.4%	·	-51.0%	·
ROIC	-387.2%	-106.6%	·	·	·	·	·	·

Liquidity & Solvency 4

Metric	2025	2024	2023	2022	2021	2020	2019	2018
Current Ratio	3.8	3.4	3.2	7.7	5.4	·	5.8	·
Quick Ratio	3.7	3.3	3.1	7.6	5.3	·	5.7	·
Debt / Equity	0.3	0.1	·	·	·	·	·	·
LT Debt / Equity	0.3	0.1	·	·	·	·	·	·

Efficiency 1

Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018
Asset Turnover		0.1	0.2	0.1	0.2	0.3	·	0.1	·

Per Share 5

Metric	2025	2024	2023	2022	2021	2020	2019	2018
Book Value / Share	$0.28	$1.28	$1.58	$2.62	$3.79	·	$2.82	·
Revenue / Share	$0.20	$1.04	$1.16	$1.62	·	·	·	·
Cash Flow / Share	$-1.79	$-2.38	$-2.20	$-0.25	·	·	·	·
Cash / Share	$0.60	$0.33	$0.88	$1.88	$4.15	·	$1.30	·
EPS (TTM)	$-1.39	$-1.23	$-1.56	$-1.62	$-0.45	$-2.45	·	·

Growth Rates 3

Metric	2025	2024	2023	2022	2021	2020	2019	2018
Revenue YoY	-79.1%	3.6%	-27.3%	-35.5%	881.5%	·	·	·
Revenue CAGR 3Y	-46.0%	-21.4%	66.3%	·	·	·	·	·
Revenue CAGR 5Y	-0.05%	·	·	·	·	·	·	·

Valuation (TTM) 14

Metric	2025	2024	2023	2022	2021	2020	2019	2018
Revenue TTM	$21M	$101M	$97M	$134M	$207M	$21M	$21M	$28M
Net Income TTM	$-143M	$-119M	$-130M	$-133M	$-36M	$-190M	$-105M	$-52M
Market Cap	$172M	$187M	$677M	$757M	$1.64B	·	$1.19B	·
Enterprise Value	$-74M	$-217M	·	·	·	·	·	·
P/E	-1.1	-1.5	-5.1	-5.7	-45.9	-6.2	·	·
P/S	8.2	1.9	7.0	5.7	7.9	·	56.1	·
P/B	5.6	1.5	5.0	3.5	5.4	·	6.1	·
P / Tangible Book	5.6	1.5	5.0	3.5	5.4	4.5	·	·
P / Cash Flow	-0.9	-0.8	-3.7	-37.2	5.5	·	-12.0	·
P / FCF	-0.9	-0.8	-3.6	-31.0	5.5	·	-10.4	·
EV / EBITDA	0.5	1.5	·	·	·	·	·	·
EV / FCF	0.4	0.9	·	·	·	·	·	·
EV / Revenue	-3.5	-2.2	·	·	·	·	·	·
Earnings Yield	-89.1%	-65.1%	-19.6%	-17.5%	-2.2%	-16.2%	·	·

Income Statement 14

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$3M	$1M	$6M	$3M	$8M	$4M	$54M	$15M	$15M	$16M	$15M	$9M	$56M	$17M	$14M	$15M
R&D Expense	$19M	$18M	$32M	$29M	$28M	$34M	$46M	$48M	$46M	$45M	$48M	$46M	$46M	$52M	$54M	$48M
SG&A Expense	$8M	$8M	$13M	$12M	$14M	$15M	$15M	$16M	$14M	$14M	$15M	$13M	$14M	$15M	$15M	$14M
Operating Expenses	$28M	$26M	$46M	$41M	$42M	$48M	$61M	$64M	$61M	$60M	$63M	$60M	$60M	$67M	$70M	$63M
Operating Income	$-24M	$-25M	$-40M	$-38M	$-34M	$-45M	$-7M	$-48M	$-46M	$-44M	$-47M	$-51M	$-4M	$-50M	$-55M	$-48M
Other Non-op	$2M	$2M	$2M	$3M	$4M	$4M	$5M	$6M	$7M	$8M	$8M	$7M	$6M	$5M	$4M	$2M
Pretax Income	$-23M	$-23M	$-37M	$-35M	$-31M	$-40M	$-2M	$-42M	$-39M	$-36M	·	·	·	·	·	·
Income Tax	$130.0K	$0	$168.0K	$0	$0	$0	$48.0K	$0	$73.0K	$7.0K	$2M	$1M	$1M	$901.0K	$721.0K	$733.0K
Net Income	$-23M	$-23M	$-37M	$-35M	$-31M	$-40M	$-2M	$-42M	$-39M	$-36M	$-41M	$-44M	$1M	$-46M	$-52M	$-46M
EPS (Basic)	$-0.21	$-0.21	$-0.34	$-0.34	$-0.30	$-0.41	$-0.02	$-0.43	$-0.40	$-0.38	$-0.50	$-0.53	$0.02	$-0.55	$-0.64	$-0.56
EPS (Diluted)	$-0.21	$-0.21	$-0.34	$-0.34	$-0.30	$-0.41	$-0.02	$-0.43	$-0.40	$-0.38	$-0.50	$-0.53	$0.02	$-0.55	$-0.64	$-0.56
Shares (Basic)	111,224,116	110,590,014	·	102,597,601	100,371,632	99,398,200	·	97,519,595	96,674,921	93,810,177	·	83,927,961	83,497,125	83,102,296	·	82,602,842
Shares (Diluted)	111,224,116	110,590,014	·	102,597,601	100,371,632	99,398,200	·	97,519,595	96,674,921	93,810,177	·	83,927,961	83,566,293	83,102,296	·	82,602,842
EBITDA	$-24M	$-25M	·	$-38M	$-34M	$-45M	·	$-48M	$-46M	$-44M	·	$-51M	$-4M	$-50M	·	$-48M

Balance Sheet 25

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$60M	$77M	$66M	$77M	$45M	$38M	$33M	$37M	$48M	$73M	$75M	$102M	$132M	$196M	·	$184M
Short-term Investments	$113M	$130M	$190M	$215M	$263M	$317M	$380M	$420M	$456M	$490M	$474M	$487M	$499M	$474M	·	$574M
Prepaid Expense	$7M	$9M	$10M	$9M	$12M	$12M	$11M	$12M	$16M	$19M	$17M	$14M	$10M	$12M	·	$10M
Current Assets	$180M	$215M	$266M	$300M	$319M	$367M	$425M	$469M	$520M	$581M	$566M	$613M	$648M	$686M	·	$775M
PP&E (Net)	$9M	$10M	$11M	$13M	$14M	$16M	$17M	$18M	$20M	$21M	$22M	$23M	$24M	$25M	·	$26M
PP&E (Gross)	·	·	$48M	·	·	·	$50M	·	·	·	$50M	·	·	·	·	·
Accum. Depreciation	·	·	$37M	·	·	·	$33M	·	·	·	$28M	·	·	·	·	·
Other Non-current Assets	$353.0K	$369.0K	$386.0K	$4M	$4M	$5M	$5M	$6M	$6M	$7M	$7M	$9M	$9M	$9M	·	$6M
Total Assets	$203M	$240M	$293M	$335M	$356M	$408M	$468M	$516M	$571M	$635M	$622M	$672M	$709M	$748M	·	$837M
Accounts Payable	$2M	$1M	$2M	$5M	$2M	$2M	$2M	$5M	$4M	$5M	$4M	$5M	$5M	$3M	·	$5M
Accrued Liabilities	$7M	$11M	$19M	$18M	$14M	$17M	$29M	$26M	$23M	$19M	$30M	$30M	$23M	$19M	·	$23M
Short-term Debt	·	$1M	$366.0K	·	·	·	$0	·	·	·	·	·	·	·	·	·
Current Liabilities	$34M	$41M	$70M	$80M	$84M	$110M	$125M	$143M	$148M	$165M	$178M	$155M	$132M	$99M	·	$161M
Capital Leases	$14M	$16M	$17M	$19M	$21M	$23M	$24M	$26M	$28M	$29M	$30M	$32M	$33M	$34M	·	$36M
Other Non-current Liabilities	$2M	$2M	$2M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$898.0K	$898.0K	$898.0K	·	$233.0K
Total Liabilities	$213M	$230M	$263M	$278M	$285M	$314M	$342M	$397M	$420M	$457M	$488M	$510M	$512M	$565M	·	$584M
Long-term Debt	$10M	·	$10M	·	·	·	·	·	·	·	·	·	·	·	·	·
Total Debt	$10M	$10M	·	$10M	$10M	$9M	·	·	·	·	·	·	·	·	·	·
Common Stock	$11.0K	$11.0K	$11.0K	$10.0K	$9.0K	$9.0K	$9.0K	$9.0K	$9.0K	$9.0K	$8.0K	$8.0K	$8.0K	$8.0K	·	$8.0K
Paid-in Capital	$1.01B	$1.01B	$1.00B	$992M	$971M	$964M	$956M	$945M	$936M	$925M	$844M	$832M	$822M	$811M	·	$787M
Retained Earnings	$-1.02B	$-995M	$-972M	$-935M	$-900M	$-870M	$-829M	$-827M	$-785M	$-746M	$-710M	$-669M	$-624M	$-626M	·	$-527M
AOCI	$-126.0K	$-104.0K	$166.0K	$197.0K	$96.0K	$191.0K	$261.0K	$931.0K	$-620.0K	$-403.0K	$184.0K	$-721.0K	$-1M	$-2M	·	$-7M
Stockholders' Equity	$-10M	$10M	$31M	$58M	$71M	$95M	$127M	$119M	$151M	$179M	$134M	$163M	$196M	$183M	$214M	$253M
Liabilities + Equity	$203M	$240M	$293M	$335M	$356M	$408M	$468M	$516M	$571M	$635M	$622M	$672M	$709M	$748M	·	$837M
Shares Outstanding	111,656,805	111,025,187	110,362,581	107,446,056	101,212,329	99,992,600	99,085,888	97,929,897	97,321,062	96,384,562	84,879,693	84,136,381	83,830,300	83,351,778	82,895,718	81,986,192

Cash Flow 10

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$1M	$1M	$1M	$1M	$2M	$984.0K	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M
Stock-based Comp	$3M	$3M	$5M	$6M	$7M	$8M	$10M	$9M	$10M	$10M	$12M	$10M	$10M	$11M	$11M	$11M
Restructuring	$700.0K	$-300.0K	$100.0K	$-100.0K	$0	$2M	·	·	·	·	·	·	·	·	·	·
Operating Cash Flow	$-34M	$-50M	$-42M	$-33M	$-49M	$-61M	$-55M	$-51M	$-63M	$-61M	$-46M	$-47M	$-43M	$-49M	$-49M	$-49M
CapEx	$31.0K	$118.0K	$0	$11.0K	$10.0K	$20.0K	$173.0K	$212.0K	$337.0K	$533.0K	$233.0K	$-94.0K	$1M	$1M	$766.0K	$2M
Investing Cash Flow	$17M	$61M	$26M	$50M	$56M	$66M	$41M	$40M	$37M	$-12M	$18M	$17M	$-22M	$89M	$18M	$61M
Stock Issued	·	·	$5M	·	·	·	$0	·	·	·	·	·	·	·	·	·
Financing Cash Flow	$50.0K	$25.0K	$5M	$15M	$122.0K	$0	$10M	$0	$644.0K	$71M	$590.0K	$0	$881.0K	$1M	$636.0K	$489.0K
Net Change in Cash	$-17M	$11M	$-11M	$32M	$7M	$5M	$-4M	$-10M	$-25M	$-2M	$-27M	$-30M	$-64M	$41M	$-30M	$12M
Free Cash Flow	·	$-50M	·	·	·	$-61M	·	·	·	$-62M	·	·	·	$-50M	·	·

Profitability 7

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Operating Margin	-734.7%	-2382.3%	·	-1153.6%	-433.5%	-1208.0%	·	-315.7%	-302.4%	-275.0%	·	-555.3%	-6.4%	-302.8%	·	-321.5%
Net Margin	-692.5%	-2192.2%	·	-1063.4%	-387.7%	-1093.8%	·	-275.2%	-256.4%	-227.0%	·	-488.2%	2.5%	-277.1%	·	-310.7%
Pretax Margin	-688.6%	-2192.2%	·	-1063.4%	-387.7%	-1094.6%	·	·	·	·	·	·	·	·	·	·
EBITDA Margin	-734.7%	-2382.3%	·	-1153.6%	-433.5%	-1208.0%	·	-315.7%	-302.4%	-275.0%	·	-555.3%	-6.4%	-302.8%	·	-321.5%
ROA	-8.2%	-7.1%	·	-8.1%	-6.6%	-7.8%	·	-7.1%	-6.0%	-5.2%	·	-5.9%	0.17%	-5.4%	·	-5.5%
ROE	-75.1%	-43.7%	·	-39.2%	-27.5%	-29.6%	·	-30.0%	-22.3%	-19.9%	·	-21.4%	0.57%	-20.4%	·	-15.7%
ROIC	20108.0%	-123.7%	·	-55.9%	-42.3%	-43.0%	·	·	·	·	·	·	·	·	·	·

Liquidity & Solvency 4

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio	5.3	5.3	·	3.8	3.8	3.3	·	3.3	3.5	3.5	·	3.9	4.9	6.9	·	4.8
Quick Ratio	5.0	5.0	·	3.6	3.6	3.2	·	3.2	3.4	3.4	·	3.8	4.8	6.7	·	4.7
Debt / Equity	-1.0	0.9	·	0.2	0.1	0.1	·	·	·	·	·	·	·	·	·	·
LT Debt / Equity	0.0	0.8	·	0.2	0.1	0.1	·	·	·	·	·	·	·	·	·	·

Efficiency 1

Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover		0.0	0.0	·	0.0	0.0	0.0	·	0.0	0.0	0.0	·	0.0	0.1	0.0	·	0.0

Per Share 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$-0.09	$0.09	·	$0.54	$0.70	$0.95	·	$1.21	$1.55	$1.86	·	$1.93	$2.34	$2.20	·	$3.09
Revenue / Share	$0.03	$0.01	·	$0.03	$0.08	$0.04	·	$0.16	$0.16	$0.17	·	$0.11	$0.67	$0.20	·	$0.18
Cash Flow / Share	·	$-0.45	·	·	·	$-0.61	·	·	·	$-0.65	·	·	·	$-0.58	·	·
Cash / Share	$0.54	$0.69	·	$0.71	$0.44	$0.38	·	$0.38	$0.49	$0.75	·	$1.21	$1.57	$2.35	·	$2.25
EPS (TTM)	$-1.10	$-1.19	·	$-1.07	$-1.16	$-1.26	·	$-1.71	$-1.81	$-1.39	·	$-1.70	$-1.73	$-1.63	·	$-1.66

Valuation (TTM) 11

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$14M	$18M	·	$69M	$81M	$88M	·	$62M	$55M	$96M	·	$96M	$102M	$126M	·	$133M
Net Income TTM	$-118M	$-125M	·	$-108M	$-115M	$-123M	·	$-158M	$-161M	$-121M	·	$-141M	$-143M	$-135M	·	$-136M
Market Cap	$224M	$239M	·	$318M	$142M	$123M	·	$456M	$442M	$580M	·	$545M	$504M	$516M	·	$776M
Enterprise Value	$61M	$42M	·	$37M	$-156M	$-222M	·	·	·	·	·	·	·	·	·	·
P/E	-1.8	-1.8	·	-2.8	-1.2	-1.0	·	-2.7	-2.5	-4.3	·	-3.8	-3.5	-3.8	·	-5.7
P/S	16.2	13.0	·	4.6	1.7	1.4	·	7.4	8.0	6.0	·	5.7	4.9	4.1	·	5.8
P/B	-22.5	23.0	·	5.5	2.0	1.3	·	3.8	2.9	3.2	·	3.4	2.6	2.8	·	3.1
P / Tangible Book	·	23.0	·	5.5	2.0	1.3	·	3.8	2.9	3.2	·	3.4	2.6	2.8	·	3.1
P / Cash Flow	·	-4.8	·	·	·	-2.0	·	·	·	-9.5	·	·	·	-10.6	·	·
EV / Revenue	4.4	2.3	·	0.5	-1.9	-2.5	·	·	·	·	·	·	·	·	·	·
Earnings Yield	-54.7%	-55.4%	·	-36.1%	-82.9%	-102.4%	·	-36.7%	-39.9%	-23.1%	·	-26.2%	-28.8%	-26.3%	·	-17.5%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$21M	$101M	$97M	$134M	$207M
Operating Margin %	-741.3%	-144.1%	-156.3%	-103.2%	-18.0%
Net Income	$-143M	$-119M	$-130M	$-133M	$-36M
Diluted EPS	$-1.39	$-1.23	$-1.56	$-1.62	$-0.45

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Debt / Equity	0.3	0.1	·	·	·
Current Ratio	3.8	3.4	3.2	7.7	5.4
Quick Ratio	3.7	3.3	3.1	7.6	5.3

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$-184M	$-231M	$-187M	$-24M	$295M

Institutional owners (13F) 154 filers · $189.3M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 154

Value held $189.3M

New positions 19

Exited positions 8

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
19 (-10 vs prior Q)	8 (-10 vs prior Q)	59 (+15 vs prior Q)	34 (-2 vs prior Q)	+4.1M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
TCG Crossover Management, LLC	$20,100,000	10,000,000	10.62%	Shares
BlackRock, Inc.	$15,774,236	7,847,879	8.33%	Shares
VANGUARD GROUP INC	$10,776,564	6,908,054	5.69%	Shares
Nantahala Capital Management, LLC	$8,679,399	4,318,109	4.58%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$8,058,773	4,009,340	4.26%	Shares
Kynam Capital Management, LP	$7,655,073	3,808,494	4.04%	Shares
Merck & Co., Inc.	$7,126,896	3,545,719	3.76%	Shares
Balyasny Asset Management L.P.	$6,527,326	3,247,426	3.45%	Shares
683 Capital Management, LLC	$6,432,000	3,200,000	3.40%	Shares
D. E. Shaw & Co., Inc.	$5,949,566	2,959,983	3.14%	Shares
ADAR1 Capital Management, LLC	$5,796,002	2,883,583	3.06%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$5,669,191	2,820,493	2.99%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$4,934,077	2,454,271	2.61%	Shares
Spruce Street Capital LP	$4,223,147	2,101,068	2.23%	Shares
MILLENNIUM MANAGEMENT LLC	$3,997,558	1,988,835	2.11%	Shares
Ikarian Capital, LLC	$3,985,038	1,982,606	2.10%	Shares
STATE STREET CORP	$3,778,328	1,879,765	2.00%	Shares
JACOBS LEVY EQUITY MANAGEMENT, INC	$3,549,517	1,765,929	1.87%	Shares
MEDICI CAPITAL LLC	$3,321,565	1,652,520	1.75%	Shares
Affinity Asset Advisors, LLC	$3,035,100	1,510,000	1.60%	Shares
Eversept Partners, LP	$2,861,985	1,423,873	1.51%	Shares
FMR LLC	$2,806,759	1,396,398	1.48%	Shares
AQR CAPITAL MANAGEMENT LLC	$2,632,249	1,309,577	1.39%	Shares
Euclidean Capital LLC	$2,628,795	1,307,858	1.39%	Shares
MACKENZIE FINANCIAL CORP	$2,230,638	1,109,770	1.18%	Shares
DEUTSCHE BANK AG\	$2,207,760	1,098,388	1.17%	Shares
DEERFIELD MANAGEMENT COMPANY, L.P.	$2,120,936	1,055,192	1.12%	Shares
TWO SIGMA INVESTMENTS, LP	$2,101,206	1,045,376	1.11%	Shares
RENAISSANCE TECHNOLOGIES LLC	$1,879,684	935,166	0.99%	Shares
DAFNA Capital Management LLC	$1,825,786	908,351	0.96%	Shares
Elmind Capital, LP	$1,809,000	900,000	0.96%	Shares
PANAGORA ASSET MANAGEMENT INC	$1,700,458	845,999	0.90%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$1,645,850	818,831	0.87%	Shares
NORTHERN TRUST CORP	$1,554,659	773,462	0.82%	Shares
VANGUARD FIDUCIARY TRUST CO	$1,333,820	663,592	0.70%	Shares
MARSHALL WACE, LLP	$1,203,105	598,559	0.64%	Shares
BOOTHBAY FUND MANAGEMENT, LLC	$1,071,029	532,850	0.57%	Shares
TWO SIGMA ADVISERS, LP	$1,016,808	651,800	0.54%	Shares
Balyasny Asset Management L.P.	$1,012,839	503,900	0.53%	Call option
New Leaf Venture Partners, L.L.C.	$1,005,124	339,569	0.53%	Shares
GOLDMAN SACHS GROUP INC	$872,089	433,875	0.46%	Shares
XTX Topco Ltd	$803,359	399,681	0.42%	Shares
CITADEL ADVISORS LLC	$786,376	391,232	0.42%	Shares
CANTOR FITZGERALD, L. P.	$593,939	295,492	0.31%	Shares
UBS Group AG	$550,298	273,780	0.29%	Shares
Invesco Ltd.	$516,849	257,139	0.27%	Shares
Bank of New York Mellon Corp	$502,688	250,093	0.27%	Shares
AMERIPRISE FINANCIAL INC	$451,305	224,530	0.24%	Shares
NANO CAP NEW MILLENNIUM GROWTH FUND L P	$402,000	200,000	0.21%	Shares
LMR Partners LLP	$402,000	200,000	0.21%	Shares

Show all 154 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
OrbiMed Advisors LLC, OrbiMed Capital GP IV LLC ×10 filings	July 16, 2020	·	Initial filing	·	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 22 insiders · 11 officers · 12 directors

19

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Arnon Rosenthal	Chief Executive Officer	Sept. 3, 2026 S	2,294,600	4	$-655,369
Neil Lindsay Berkley	CFO & Chief Business Officer	Sept. 3, 2026 S	350,649	4	$-220,535
Marc Grasso	Chief Financial Officer	June 2, 2025 S	296,072	0	$0
Sara Kenkare-Mitra	President and Head of R&D	Dec. 3, 2025 S	501,652	1	$-46,689
Shehnaaz Suliman	President and COO	Dec. 13, 2021 M	102,598	0	$0
Grace Wong-Sarad	Principal Accounting Officer	Sept. 4, 2026 S	106,015	12	$-99,033
Gary Romano	Chief Medical Officer	March 3, 2025 S	332,977	0	$0
Robert King	Chief Development Officer	Oct. 1, 2022 A	550,871	0	$0
Robert Paul	Chief Medical Officer	Aug. 9, 2021 M	234,319	0	$0
Calvin Yu	Vice President, Finance	July 6, 2021 M	76,686	0	$0
Sabah Oney	Chief Business Officer	Oct. 1, 2020 A	573,918	0	$0
Elizabeth A. Garofalo	Director	June 17, 2026 A	118,650	0	$0
Paula Hammond	Director	June 17, 2026 A	103,609	0	$0
Kristine Yaffe	Director	June 17, 2026 A	124,109	0	$0
Mark Altmeyer	Director	June 17, 2026 A	98,650	0	$0
Richard H Scheller	Director	June 17, 2026 A	134,899	0	$0
Louis J Lavigne JR	Director	June 17, 2026 A	128,109	0	$0
Errol B Desouza	Director	June 17, 2026 A	98,650	0	$0
David M. Wehner	Director	June 12, 2024 A	115,330	0	$0
Terrance McGuire	Director	Sept. 11, 2023 S	10,853,817	0	$0
Tillman U. Gerngross	Director	June 14, 2023 A	2,644,319	0	$0
GORDON CARL L	Director	May 10, 2019 A	203,200	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 18 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
QQQS · Invesco Exchange-Traded Fund Trust …	0.42%	53,037 SH	Oct. 1, 2026	Daily
UAE · iShares Trust	0.41%	3,282,337 SH	Sept. 11, 2026	Daily
IBRN · iShares Trust	0.18%	6,349 SH	Sept. 11, 2026	Daily
IWC · iShares Trust	0.05%	336,837 SH	Sept. 11, 2026	Daily
EEMS · iShares, Inc.	0.02%	212,007 SH	Sept. 11, 2026	Daily
IWO · iShares Trust	0.01%	820,921 SH	Sept. 11, 2026	Daily
PRFZ · Invesco Exchange-Traded Fund Trust	0.01%	155,185 SH	Oct. 1, 2026	Daily
VTWO · VANGUARD SCOTTSDALE FUNDS	0.01%	563,396 SH	Aug. 19, 2026	Daily
VTWG · VANGUARD SCOTTSDALE FUNDS	0.01%	94,277 SH	Aug. 19, 2026	Daily
IWM · iShares Trust	0.01%	2,501,663 SH	Sept. 11, 2026	Daily
DFSU · Dimensional ETF Trust	0.00%	3,867 NS	July 31, 2026	N-PORT
IWV · iShares Trust	0.00%	16,616 SH	Sept. 3, 2026	Daily
VXF · VANGUARD INDEX FUNDS	0.00%	1,071,545 SH	Aug. 19, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.00%	2,837,922 SH	Aug. 19, 2026	Daily
VTWV · VANGUARD SCOTTSDALE FUNDS	0.00%	9,493 SH	Aug. 19, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	5,223 SH	Aug. 19, 2026	Daily
VHT · VANGUARD WORLD FUND	0.00%	230,061 SH	Aug. 19, 2026	Daily
IWN · iShares Trust	·	160,282 SH	Sept. 11, 2026	Daily

ALEC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 14 analysts BUY

Median target $2.00 +10.5%

3 21.4% Strong Buy

5 35.7% Buy

4 28.6% Hold

2 14.3% Sell

0 0.0% Strong Sell

12-Month Price Target

5 analysts · 2026-10-02

Mean target $3.10 +71.3%

Now Current price $1.81

Low$1.00 Mean$3.10 High$6.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
ALEC	$172M	-1.1	-79.1%	-679.2%	-280.7%	·
KROS	$398M	8.9	·	35.7%	17.2%	·
RNAC	$188M	-1.4	-92.8%	-4658.6%	202.4%	·
TRDA	$394M	-3.0	-87.9%	-565.5%	-41.9%	·
WHWK	$114M	-7.3	-72.5%	-288.3%	-13.4%	·
ELDN	$114M	-2.9	·	·	-69.4%	·
NKTX	$131M	-1.3	·	·	-31.1%	·
CUE	$29M	-1.1	195.8%	-96.9%	-119.3%	·
CHRS	$172M	1.0	59.8%	398.4%	185.8%	·
CNTN	$112M	-2.7	·	·	-18.0%	·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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ALEC Alector, Inc. - Common Stock