ALX Oncology Holdings Inc. (NASDAQ:ALXO) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on ALX Oncology, with five buy ratings and one sell rating. The average 12-month price target is $4.60, compared with the stock’s recent $2.00 price.
• Institutional investors and hedge funds own approximately 97.97% of ALXO shares, with several firms recently initiating or increasing positions.
• ALX Oncology reported quarterly EPS of negative $0.13, beating the consensus estimate of negative $0.14. Analysts expect a full-year loss of approximately $0.60 per share as the clinical-stage biotech advances its immuno-oncology drug candidate evorpacept.

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

Separately, Weiss Ratings lowered shares of ALX Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, September 2nd.

Institutional Investors Weigh In On ALX Oncology

A number of hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. bought a new position in shares of ALX Oncology in the 1st quarter worth $46,000. AQR Capital Management LLC lifted its stake in shares of ALX Oncology by 183.6% in the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company's stock valued at $74,000 after buying an additional 77,065 shares in the last quarter. 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 valued at $806,000 after buying an additional 186,883 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of ALX Oncology during the second quarter valued at about $84,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of ALX Oncology during the third quarter worth about $66,000. Institutional investors and hedge funds own 97.97% of the company's stock.

ALX Oncology Trading Down 0.5%

Shares of ALXO stock opened at $2.00 on Wednesday. ALX Oncology has a fifty-two week low of $1.01 and a fifty-two week high of $2.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.71 and a current ratio of 9.71. The stock has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $1.95. The company has a market cap of $276.55 million, a P/E ratio of -1.77 and a beta of 0.39.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. Research analysts forecast that ALX Oncology will post -0.6 earnings per share for the current 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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