ALX Oncology (NASDAQ:ALXO) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• ALX Oncology's stock has received a "sell (D-)" rating from Weiss Ratings, indicating a negative outlook from analysts.
• The company's latest quarterly earnings report showed a loss of ($0.49) EPS, which was below analysts' expectations of ($0.46).
• CEO Jason Lettmann has increased his stake in the company by acquiring 71,163 shares at an average price of $1.08 per share, totaling approximately $76,856.

ALX Oncology (NASDAQ:ALXO - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

ALX Oncology Stock Performance

Shares of ALXO stock traded up $0.14 on Wednesday, hitting $1.97. The company had a trading volume of 466,222 shares, compared to its average volume of 840,158. The firm has a market cap of $105.49 million, a P/E ratio of -0.90 and a beta of 1.21. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.27. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $1.13 and a 200-day moving average price of $0.73.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). As a group, equities research analysts predict that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jason Lettmann acquired 71,163 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were bought at an average price of $1.08 per share, with a total value of $76,856.04. Following the completion of the acquisition, the chief executive officer owned 305,121 shares in the company, valued at $329,530.68. This trade represents a 30.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 21.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On ALX Oncology

Hedge funds have recently made changes to their positions in the company. Almitas Capital LLC grew its holdings in shares of ALX Oncology by 10.6% during the first quarter. Almitas Capital LLC now owns 1,353,141 shares of the company's stock worth $843,000 after purchasing an additional 130,196 shares during the last quarter. Nuveen LLC purchased a new position in shares of ALX Oncology during the first quarter worth about $103,000. Acadian Asset Management LLC grew its holdings in shares of ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company's stock worth $806,000 after buying an additional 186,883 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of ALX Oncology during the second quarter worth about $84,000. Finally, AQR Capital Management LLC grew its holdings 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 last quarter. Hedge funds and other institutional investors own 97.97% of the company's stock.

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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