Insider Buying: ALX Oncology (NASDAQ:ALXO) Director Purchases $4,999,999.41 in Stock

ALX Oncology Holdings Inc. (NASDAQ:ALXO) Director Corey Goodman acquired 3,184,713 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were bought at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the transaction, the director directly owned 8,453,038 shares in the company, valued at approximately $13,271,269.66. The trade was a 60.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ALX Oncology Stock Down 0.5%

Shares of ALX Oncology stock opened at $2.05 on Friday. ALX Oncology Holdings Inc. has a 12-month low of $0.40 and a 12-month high of $2.41. The firm has a market capitalization of $111.15 million, a PE ratio of -1.01 and a beta of 0.51. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $1.42 and its 200-day moving average is $1.31.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). Equities analysts anticipate that ALX Oncology Holdings Inc. will post -2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALXO. Piper Sandler raised 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. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group began coverage on shares of ALX Oncology in a research note on Thursday, November 13th. They set a “buy” rating and a $4.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.50.

Institutional Trading of ALX Oncology

A number of institutional investors have recently added to or reduced their stakes in ALXO. Invesco Ltd. acquired a new position in shares of ALX Oncology during the 1st quarter worth $46,000. Bridgeway Capital Management LLC bought a new position in ALX Oncology during the third quarter valued at about $66,000. AQR Capital Management LLC lifted its position in shares of 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 buying an additional 77,065 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of ALX Oncology in the second quarter worth about $84,000. Finally, Acadian Asset Management LLC boosted its stake in shares of ALX Oncology by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after acquiring an additional 186,883 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.