ALX Oncology (NASDAQ:ALXO) Releases Earnings Results, Beats Estimates By $0.01 EPS

ALX Oncology (NASDAQ:ALXO) posted its earnings results on Thursday. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01, FiscalAI reports.

ALX Oncology Trading Down 0.5%

Shares of ALXO opened at $2.10 on Friday. The company’s fifty day simple moving average is $1.88 and its 200-day simple moving average is $1.93. The company has a market cap of $282.58 million, a P/E ratio of -1.86 and a beta of 0.42. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.02. ALX Oncology has a twelve month low of $0.60 and a twelve month high of $2.66.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALXO. Weiss Ratings lowered ALX Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ALX Oncology has an average rating of “Moderate Buy” and an average target price of $4.60.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds have recently added to or reduced their stakes in ALXO. Acadian Asset Management LLC lifted its stake in ALX Oncology by 16.8% in 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. bought a new position in shares of ALX Oncology during the third quarter valued at approximately $1,195,000. Two Sigma Investments LP grew its stake in shares of ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after buying an additional 128,737 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of ALX Oncology by 157.2% in the fourth 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. Finally, Jane Street Group LLC purchased a new stake in shares of ALX Oncology in the second quarter worth approximately $84,000. 97.97% of the stock is currently owned by institutional investors.

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.