ALX Oncology (NASDAQ:ALXO) Issues Earnings Results

ALX Oncology (NASDAQ:ALXO) issued its quarterly earnings results on Monday. The company reported ($0.42) EPS for the quarter, FiscalAI reports.

ALX Oncology Stock Performance

NASDAQ:ALXO opened at $2.04 on Wednesday. ALX Oncology has a 12 month low of $0.40 and a 12 month high of $2.66. 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 firm has a market capitalization of $110.61 million, a PE ratio of -1.07 and a beta of 0.47. The business’s fifty day moving average price is $1.81 and its 200 day moving average price is $1.57.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALXO. Piper Sandler increased their price objective on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a report on Monday, December 22nd. UBS Group assumed coverage on ALX Oncology in a research report on Friday, March 6th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on ALX Oncology in a research note on Thursday, November 13th. They issued a “buy” rating and a $4.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Insider Transactions at ALX Oncology

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

Institutional Investors Weigh In On ALX Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after purchasing an additional 186,883 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in ALX Oncology in the third quarter valued at approximately $1,195,000. Two Sigma Investments LP raised its holdings in ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock worth $1,110,000 after purchasing an additional 128,737 shares in the last quarter. Renaissance Technologies LLC raised its holdings in ALX Oncology by 157.2% during the fourth quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after purchasing an additional 258,600 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of ALX Oncology during the 2nd quarter worth approximately $84,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.