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

Key Points

• Six analysts give ALX Oncology a consensus recommendation of Moderate Buy (five buys, one sell) with an average 12‑month price target of $4.60; UBS recently initiated coverage with a $6 target and Piper Sandler raised its target to $4.00.
• Director Corey S. Goodman purchased 3,184,713 shares at $1.57 (~$5.0M), increasing his stake to 8,453,038 shares (a 60.45% rise), while CEO Jason Lettmann sold 12,311 shares at $2.17; insiders own about 21% of the company.
• ALX is a clinical‑stage immuno‑oncology firm developing lead candidate evorpacept; it has a market cap of $223.7M, posted EPS of −$0.42 last quarter, and analysts forecast roughly −2.76 EPS for the fiscal year, with a 52‑week trading range of $0.40–$2.66.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $4.60.

A number of research firms recently weighed in on ALXO. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ALX Oncology in a research report on Wednesday, January 21st. Piper Sandler raised their target price on shares of ALX Oncology from $3.00 to $4.00 and gave the company an "overweight" rating in a research report on Thursday, February 5th. UBS Group initiated coverage on shares of ALX Oncology in a research report on Friday, March 6th. They issued a "buy" rating and a $6.00 price objective for the company. Wall Street Zen raised shares of ALX Oncology from a "sell" rating to a "hold" rating in a research report on Monday, December 22nd. Finally, HC Wainwright reissued a "buy" rating and issued a $4.00 price objective on shares of ALX Oncology in a research report on Tuesday, March 10th.

ALX Oncology Price Performance

ALX Oncology stock opened at $1.70 on Friday. The company has a market cap of $223.74 million, a P/E ratio of -0.89 and a beta of 0.49. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.66. The company has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $1.71. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.17.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last released its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter. Research analysts anticipate that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Insider Transactions at ALX Oncology

In other news, Director Corey S. Goodman acquired 3,184,713 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was 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 accessible through this hyperlink. Also, CEO Jason Lettmann sold 12,311 shares of ALX Oncology stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the completion of the transaction, the chief executive officer directly owned 293,609 shares of the company's stock, valued at approximately $637,131.53. This trade represents a 4.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 21.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of ALX Oncology by 11.0% during the 4th quarter. State Street Corp now owns 124,228 shares of the company's stock worth $140,000 after buying an additional 12,300 shares during the period. Bridgeway Capital Management LLC bought a new stake in shares of ALX Oncology during the 3rd quarter worth about $66,000. Invesco Ltd. bought a new stake in shares of ALX Oncology during the 1st quarter worth about $46,000. AQR Capital Management LLC boosted its holdings in shares of ALX Oncology by 183.6% during the 1st 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. Finally, Seven Fleet Capital Management LP bought a new stake in shares of ALX Oncology during the 4th quarter worth about $133,000. Institutional investors own 97.97% of the company's stock.

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.

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