Brokerages Set ALX Oncology Holdings Inc. (NASDAQ:ALXO) Target Price at $4.50

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.60.

A number of analysts recently weighed in on ALXO shares. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Piper Sandler increased 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. UBS Group started coverage on ALX Oncology in a report on Friday, March 6th. They issued a “buy” rating and a $6.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company began coverage on shares of ALX Oncology in a report on Thursday. They issued an “overweight” rating and a $5.00 price target for the company.

Insiders Place Their Bets

In related news, Director Corey S. Goodman bought 3,184,713 shares of the stock in a transaction on Monday, February 2nd. The shares were bought at an average cost of $1.57 per share, for a total transaction of $4,999,999.41. Following the completion of the transaction, the director owned 8,453,038 shares of the company’s stock, valued at $13,271,269.66. This represents a 60.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.00% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

Several institutional investors have recently modified their holdings of the company. Seven Fleet Capital Management LP acquired a new stake in shares of ALX Oncology in the 4th quarter worth approximately $133,000. Bridgeway Capital Management LLC raised its holdings in ALX Oncology by 111.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 76,072 shares of the company’s stock worth $86,000 after purchasing an additional 40,072 shares during the last quarter. State Street Corp boosted its position in ALX Oncology by 11.0% during the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock worth $140,000 after purchasing an additional 12,300 shares in the last quarter. Renaissance Technologies LLC boosted its position 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, Ameriprise Financial Inc. acquired a new stake in ALX Oncology in the third quarter valued at $1,195,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Price Performance

Shares of NASDAQ:ALXO opened at $2.18 on Wednesday. ALX Oncology has a 52 week low of $0.40 and a 52 week high of $2.66. The company has a 50-day moving average price of $1.96 and a 200 day moving average price of $1.63. The company has a market cap of $286.91 million, a P/E ratio of -1.15 and a beta of 0.46. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.17.

ALX Oncology (NASDAQ:ALXO) last released its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share (EPS) for the quarter. Research analysts predict that ALX Oncology will post -2.76 earnings per share for the current year.

ALX Oncology Company Profile

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.