ALX Oncology (NASDAQ:ALXO) Upgraded by Wall Street Zen to “Hold” Rating

ALX Oncology (NASDAQ:ALXO) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday.

Several other equities research analysts also recently commented on ALXO. Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, October 8th. Jefferies Financial Group started coverage on ALX Oncology in a research note on Thursday, November 13th. They set a “buy” rating and a $4.00 price target for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

ALX Oncology Trading Up 2.8%

NASDAQ ALXO opened at $1.45 on Monday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.13. ALX Oncology has a 52 week low of $0.40 and a 52 week high of $2.27. The business has a 50 day moving average price of $1.47 and a 200-day moving average price of $1.09. The company has a market cap of $78.62 million, a price-to-earnings ratio of -0.71 and a beta of 0.53.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). As a group, equities analysts expect that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ALX Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC purchased a new position in shares of ALX Oncology in the 3rd quarter worth approximately $66,000. Invesco Ltd. bought a new stake in ALX Oncology during the first quarter worth $46,000. AQR Capital Management LLC boosted 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 worth $74,000 after purchasing an additional 77,065 shares during the last quarter. Two Sigma Investments LP boosted its position in ALX Oncology by 26.9% in 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 during the last quarter. Finally, Almitas Capital LLC grew its stake in ALX Oncology by 10.6% in the 1st quarter. Almitas Capital LLC now owns 1,353,141 shares of the company’s stock valued at $843,000 after purchasing an additional 130,196 shares during the period. Hedge funds and other 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.