ALX Oncology Holdings Inc. (NASDAQ:ALXO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• ALX Oncology Holdings Inc. has received a consensus recommendation of "Moderate Buy" from six brokerages, with five analysts giving it a buy rating and one assigning a hold rating.
• The company's average 12-month price target among brokers is $3.30, while its shares are currently trading at approximately $1.26.
• Insider trading activity saw CEO Jason Lettmann purchase 71,163 shares of the company, indicating confidence in its future performance.

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.30.

Separately, Wall Street Zen downgraded ALX Oncology from a "hold" rating to a "sell" rating in a research note on Friday, June 6th.

ALX Oncology Stock Performance

Shares of ALXO stock opened at $1.26 on Wednesday. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $0.86 and a two-hundred day moving average of $0.66. ALX Oncology has a 52 week low of $0.40 and a 52 week high of $2.06. The company has a market cap of $67.47 million, a P/E ratio of -0.57 and a beta of 1.11.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). As a group, analysts anticipate that ALX Oncology will post -2.76 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jason Lettmann bought 71,163 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was bought at an average cost of $1.08 per share, for a total transaction of $76,856.04. Following the completion of the purchase, the chief executive officer directly owned 305,121 shares in the company, valued at approximately $329,530.68. The trade was a 30.42% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in ALXO. Bank of America Corp DE boosted its position in shares of ALX Oncology by 492.9% during the fourth quarter. Bank of America Corp DE now owns 1,035,326 shares of the company's stock worth $1,729,000 after buying an additional 860,703 shares during the period. Two Sigma Advisers LP boosted its position in shares of ALX Oncology by 64.6% during the fourth quarter. Two Sigma Advisers LP now owns 823,900 shares of the company's stock worth $1,376,000 after buying an additional 323,400 shares during the period. Jane Street Group LLC acquired a new position in shares of ALX Oncology during the second quarter worth approximately $84,000. Acadian Asset Management LLC boosted its position in shares of ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company's stock worth $806,000 after buying an additional 186,883 shares during the period. Finally, Nuveen LLC acquired a new position in shares of ALX Oncology during the first quarter worth approximately $103,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

About ALX Oncology

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.

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