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

Key Points

• ALX Oncology has a consensus analyst rating of “Moderate Buy”, with five buy ratings and one sell rating among six covering brokerages. The average 1-year price target is $4.60.
• The stock was down 8.6% and opened at $1.92, still trading well below its 12-month high of $2.66. ALXO has a market cap of about $258.36 million.
• The company recently reported quarterly earnings of -$0.17 per share, missing estimates by $0.02, and analysts expect it to post -$0.66 EPS for the current fiscal year. ALX Oncology remains a clinical-stage biopharmaceutical company focused on immuno-oncology, led by its candidate evorpacept (ALX148).

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $4.60.

ALXO has been the topic of several research analyst reports. Wall Street Zen upgraded ALX Oncology from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings restated a "sell (d-)" rating on shares of ALX Oncology in a report on Friday, June 26th.

ALX Oncology Trading Down 8.6%

ALX Oncology stock opened at $1.92 on Tuesday. ALX Oncology has a 12-month low of $0.44 and a 12-month high of $2.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.21 and a quick ratio of 7.21. The stock has a market capitalization of $258.36 million, a PE ratio of -1.29 and a beta of 0.42. The firm has a 50 day simple moving average of $1.88 and a 200-day simple moving average of $1.86.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). As a group, equities research analysts expect that ALX Oncology will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. bought a new position in shares of ALX Oncology during the 1st quarter valued at about $46,000. AQR Capital Management LLC raised its holdings in shares of ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company's stock worth $74,000 after purchasing an additional 77,065 shares in the last quarter. Acadian Asset Management LLC lifted its stake in ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company's stock valued at $806,000 after purchasing an additional 186,883 shares during the last quarter. Jane Street Group LLC acquired a new stake in ALX Oncology during the second quarter valued at approximately $84,000. Finally, Bridgeway Capital Management LLC bought a new stake in ALX Oncology during the third quarter worth approximately $66,000. 97.97% of the stock is currently owned by institutional investors.

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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