ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: six firms covering ALX Oncology give the stock a consensus “Moderate Buy” rating, with five buys and one sell. The average 12-month price target is $4.60 versus a recent share price of $1.96.
• ALXO recently reported a quarterly loss of $0.13 per share, beating the consensus estimate of a $0.14 loss; analysts expect a full-year loss of approximately $0.61 per share.
• Institutional ownership is high at 97.97%: venBio Partners and Redmile Group increased their stakes, while BlackRock, Vivo Capital, and 5AM Venture Management established new positions.

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) have received a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $4.60.

ALXO has been the subject of a number of analyst reports. Wall Street Zen raised ALX Oncology from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings lowered ALX Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, August 5th.

ALX Oncology Stock Up 1.0%

ALX Oncology stock opened at $1.96 on Friday. The company has a current ratio of 9.71, a quick ratio of 9.71 and a debt-to-equity ratio of 0.07. ALX Oncology has a 1-year low of $0.62 and a 1-year high of $2.66. The firm's fifty day simple moving average is $1.91 and its 200-day simple moving average is $1.95. The company has a market capitalization of $271.03 million, a P/E ratio of -1.73 and a beta of 0.42.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. Sell-side analysts forecast that ALX Oncology will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. venBio Partners LLC lifted its stake in shares of ALX Oncology by 32.8% in 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 last quarter. Redmile Group LLC boosted its holdings in shares of ALX Oncology by 143.9% during the 1st 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. BlackRock Inc. acquired a new position in ALX Oncology in the 2nd quarter valued at $15,317,000. Vivo Capital LLC acquired a new position in ALX Oncology in the 1st quarter valued at $6,385,000. Finally, 5AM Venture Management LLC bought a new position in ALX Oncology in the 2nd quarter worth $6,328,663,000. Institutional investors and hedge funds own 97.97% of the company's stock.

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.

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