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

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

Several brokerages have recently issued reports on ALXO. Wells Fargo & Company began coverage on ALX Oncology in a research report on Thursday, March 19th. They set an “overweight” rating and a $5.00 price target on the stock. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group began coverage on ALX Oncology in a research report on Friday, March 6th. They set a “buy” rating and a $6.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of ALX Oncology in a research report on Tuesday, March 10th.

ALX Oncology Price Performance

Shares of ALXO stock opened at $1.79 on Friday. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.66. The stock has a market cap of $240.86 million, a PE ratio of -1.20 and a beta of 0.44. The business’s fifty day moving average is $1.76 and its 200-day moving average is $1.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.21 and a current ratio of 7.21.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Equities analysts expect that ALX Oncology will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ALX Oncology

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of ALX Oncology by 11.0% in the 4th quarter. State Street Corp now owns 124,228 shares of the company’s stock worth $140,000 after acquiring an additional 12,300 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology in the 3rd quarter worth $66,000. Bank of America Corp DE grew its holdings in shares of ALX Oncology by 8.6% in the 1st quarter. Bank of America Corp DE now owns 577,783 shares of the company’s stock worth $1,158,000 after acquiring an additional 45,938 shares during the last quarter. Invesco Ltd. acquired a new position in shares of ALX Oncology in the 1st quarter worth $46,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of ALX Oncology in the 1st quarter worth $150,000. 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.