ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives Average Recommendation of “Moderate Buy” from Brokerages

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.60.

Several analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of ALX Oncology in a report on Tuesday, March 10th. UBS Group began coverage on shares of ALX Oncology in a research note on Friday, March 6th. They set a “buy” rating and a $6.00 price target on the stock. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company initiated coverage on shares of ALX Oncology in a research note on Thursday, March 19th. They issued an “overweight” rating and a $5.00 price objective for the company. Finally, Piper Sandler boosted their target price on shares of ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th.

Insider Buying and Selling

In other ALX Oncology news, CEO Jason Lettmann sold 12,311 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was 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 of the company’s stock, valued at $637,131.53. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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 stock. Vivo Capital LLC bought a new position in shares of ALX Oncology during the 1st quarter valued at approximately $6,385,000. Bank of America Corp DE lifted its position in ALX Oncology by 8.6% in the first quarter. Bank of America Corp DE now owns 577,783 shares of the company’s stock worth $1,158,000 after buying an additional 45,938 shares during the last quarter. Redmile Group LLC boosted its stake in ALX Oncology by 143.9% during the first quarter. Redmile Group LLC now owns 7,964,188 shares of the company’s stock worth $15,968,000 after buying an additional 4,699,470 shares during the period. venBio Partners LLC boosted its stake in ALX Oncology by 32.8% during the first quarter. venBio Partners LLC now owns 12,884,638 shares of the company’s stock worth $25,834,000 after buying an additional 3,184,713 shares during the period. Finally, Orbimed Advisors LLC bought a new position in ALX Oncology during the first quarter valued at $5,747,000. 97.97% of the stock is owned by institutional investors.

ALX Oncology Stock Performance

Shares of ALX Oncology stock opened at $1.90 on Monday. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.66. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $1.89 and a 200-day moving average price of $1.75. The firm has a market cap of $255.66 million, a price-to-earnings ratio of -1.28 and a beta of 0.44.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings results 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 fiscal year.

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.