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

Key Points

• ALX Oncology Holdings Inc. has received a consensus rating of "Moderate Buy" from seven ratings firms, with five analysts recommending a buy position.
• The stock is currently trading at $1.50, down 9.1%, with a year low of $0.40 and a high of $2.27.
• Insider trading activity showed CEO Jason Lettmann purchased 71,163 shares at $1.08 per share, increasing his ownership by 30.42% amid institutional investor interest in the stock.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $3.30.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of ALX Oncology in a research note on Wednesday, October 8th.

ALX Oncology Stock Down 9.1%

NASDAQ:ALXO opened at $1.50 on Friday. The company has a market capitalization of $80.33 million, a price-to-earnings ratio of -0.68 and a beta of 1.21. ALX Oncology has a one year low of $0.40 and a one year high of $2.27. The stock has a 50-day simple moving average of $1.31 and a 200 day simple moving average of $0.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.52 and a current ratio of 4.52.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last posted its quarterly 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). Sell-side analysts predict that ALX Oncology will post -2.76 EPS for the current fiscal 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Almitas Capital LLC boosted its stake in ALX Oncology by 10.6% in the first quarter. Almitas Capital LLC now owns 1,353,141 shares of the company's stock valued at $843,000 after acquiring an additional 130,196 shares during the period. Acadian Asset Management LLC boosted its stake in ALX Oncology by 16.8% in the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company's stock valued at $806,000 after acquiring an additional 186,883 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. Nuveen LLC acquired a new position in shares of ALX Oncology during the first quarter worth approximately $103,000. Finally, AQR Capital Management LLC boosted its position in shares of ALX Oncology by 183.6% during 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 period. 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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