ALX Oncology (NASDAQ:ALXO) Coverage Initiated by Analysts at UBS Group

Research analysts at UBS Group initiated coverage on shares of ALX Oncology (NASDAQ:ALXO) in a report released on Friday. The firm set a “buy” rating and a $6.00 price target on the stock. UBS Group’s target price indicates a potential upside of 172.73% from the stock’s previous close.

A number of other research firms have also commented on ALXO. Jefferies Financial Group began coverage on shares of ALX Oncology in a research note on Thursday, November 13th. They issued a “buy” rating and a $4.00 price objective on the stock. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, January 21st. Finally, Piper Sandler lifted their price objective on ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.50.

ALX Oncology Price Performance

ALXO stock traded up $0.07 during trading on Friday, reaching $2.20. 607,503 shares of the company were exchanged, compared to its average volume of 672,213. The company has a market capitalization of $119.28 million, a price-to-earnings ratio of -1.16 and a beta of 0.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.40 and a quick ratio of 2.40. The company has a 50-day moving average of $1.76 and a two-hundred day moving average of $1.54. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.66.

ALX Oncology (NASDAQ:ALXO) last posted its earnings results on Friday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). As a group, equities analysts predict that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Corey S. Goodman acquired 3,184,713 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was purchased at an average cost of $1.57 per share, with a total value of $4,999,999.41. Following the acquisition, the director owned 8,453,038 shares of the company’s stock, valued at approximately $13,271,269.66. This trade represents a 60.45% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.00% of the company’s stock.

Institutional Trading of ALX Oncology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. bought a new position in ALX Oncology during the third quarter worth about $1,195,000. Renaissance Technologies LLC boosted its holdings in ALX Oncology by 157.2% in the 4th quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after buying an additional 258,600 shares during the period. Jane Street Group LLC purchased a new position in ALX Oncology in the 2nd quarter valued at approximately $84,000. Acadian Asset Management LLC raised its holdings in ALX Oncology by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after acquiring an additional 186,883 shares during the period. Finally, Two Sigma Investments LP raised its holdings in ALX Oncology by 26.9% during the 3rd quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after acquiring an additional 128,737 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

About ALX Oncology

ALX Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Redwood City, California, focused on developing next-generation immuno-oncology therapies. The company’s mission is to harness and amplify both innate and adaptive immune responses to improve outcomes for patients with a range of solid tumors and hematologic malignancies.

The lead candidate in ALX Oncology’s pipeline is evorpacept (ALX148), a high-affinity CD47-blocking Fc-silenced fusion protein designed to enhance macrophage-mediated phagocytosis of cancer cells when combined with standard therapeutic antibodies or immune checkpoint inhibitors.