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

Key Points

• Moderate Buy consensus from six analysts (five buys, one sell) with an average 12‑month price target of $4.60 and top targets as high as $6.00.
• CEO Jason Lettmann sold 12,311 shares at $2.17 on March 19, reducing his stake by ~4.02%; insiders own 21% while institutional investors are reported to own 97.97% of the stock.
• ALX shares opened at $2.09, have a market cap of about $281.23 million, a 1‑year range of $0.40–$2.66, and the company is loss‑making with analysts forecasting about -$0.63 EPS for the year.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.60.

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of ALX Oncology from $3.00 to $4.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Wall Street Zen lowered shares of ALX Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Weiss Ratings restated a "sell (d-)" rating on shares of ALX Oncology in a research report on Wednesday, January 21st. HC Wainwright restated a "buy" rating and set a $4.00 target price on shares of ALX Oncology in a research report on Tuesday, March 10th. Finally, UBS Group began coverage on shares of ALX Oncology in a research report on Friday, March 6th. They set a "buy" rating and a $6.00 target price for the company.

Insider Buying and Selling at ALX Oncology

In related news, CEO Jason Lettmann sold 12,311 shares of the company's stock in a transaction on 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 owned 293,609 shares in the company, valued at approximately $637,131.53. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.00% of the company's stock.

Hedge Funds Weigh In On ALX Oncology

Several institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its position 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. Ameriprise Financial Inc. bought a new position in ALX Oncology during the third quarter valued at $1,195,000. Two Sigma Investments LP lifted its position in ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company's stock valued at $1,110,000 after purchasing an additional 128,737 shares during the last quarter. Renaissance Technologies LLC lifted its position in ALX Oncology by 157.2% during the fourth quarter. Renaissance Technologies LLC now owns 423,099 shares of the company's stock valued at $478,000 after purchasing an additional 258,600 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in ALX Oncology during the second quarter valued at $84,000. Institutional investors own 97.97% of the company's stock.

ALX Oncology Stock Performance

Shares of NASDAQ ALXO opened at $2.09 on Thursday. The firm has a fifty day moving average price of $1.96 and a 200-day moving average price of $1.69. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $281.23 million, a PE ratio of -1.10 and a beta of 0.41. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.66.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.42) earnings per share (EPS) for the quarter. Equities analysts anticipate that ALX Oncology will post -0.63 earnings per share for the current fiscal year.

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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