ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $4.60 Consensus PT from Analysts

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $4.60.

A number of equities research analysts recently commented on the stock. Wells Fargo & Company assumed coverage on shares of ALX Oncology in a report on Thursday, March 19th. They set an “overweight” rating and a $5.00 price objective on the stock. UBS Group assumed coverage on shares of ALX Oncology in a report on Friday, March 6th. They set a “buy” rating and a $6.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of ALX Oncology in a report on Tuesday, March 10th. Finally, Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th.

ALX Oncology Stock Performance

ALXO opened at $1.54 on Monday. The firm’s fifty day moving average is $1.85 and its two-hundred day moving average is $1.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.21 and a current ratio of 7.21. The firm has a market cap of $207.22 million, a PE ratio of -1.03 and a beta of 0.44. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.66.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Equities research analysts anticipate that ALX Oncology will post -0.66 EPS for the current year.

Insider Activity at ALX Oncology

In related news, CEO Jason Lettmann sold 12,311 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the sale, the chief executive officer directly owned 293,609 shares in the company, valued at $637,131.53. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in ALX Oncology by 73.2% in the first quarter. Renaissance Technologies LLC now owns 732,599 shares of the company’s stock valued at $1,469,000 after purchasing an additional 309,500 shares in the last quarter. Bridgeway Capital Management LLC grew its position in ALX Oncology by 111.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 76,072 shares of the company’s stock valued at $86,000 after purchasing an additional 40,072 shares in the last quarter. State Street Corp grew its position in ALX Oncology by 11.0% in the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after purchasing an additional 12,300 shares in the last quarter. Jane Street Group LLC bought a new position in ALX Oncology in the second quarter valued at $84,000. Finally, AQR Capital Management LLC grew its position in ALX Oncology by 183.6% in the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after purchasing an additional 77,065 shares in the last quarter. Institutional investors 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.