ALX Oncology Holdings Inc. (NASDAQ:ALXO) Stock Has Average Target Price of $4.60

Key Points

• Analysts rate ALX Oncology “Moderate Buy”: Five of six analysts recommend buying the stock, while one rates it a sell. The average 12-month price target is $4.60, versus a recent price of $1.22.
• Institutional ownership is high at 97.97%: Several hedge funds and investment firms recently established positions, including venBio Partners, which acquired a stake valued at approximately $26.7 million.
• ALX Oncology reported quarterly EPS of -$0.13, beating estimates of -$0.14. The clinical-stage biotechnology company is developing evorpacept, an investigational therapy targeting the CD47-SIRPα cancer immune pathway.

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.60.

Separately, Weiss Ratings upgraded ALX Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new stake in ALX Oncology in the 2nd quarter worth about $97,000. AXQ Capital LP bought a new stake in shares of ALX Oncology in the 2nd quarter worth approximately $84,000. Nantahala Capital Management LLC acquired a new stake in ALX Oncology in the 2nd quarter valued at approximately $1,552,500. Beacon Pointe Advisors LLC acquired a new position in ALX Oncology during the second quarter worth about $26,000. Finally, venBio Partners LLC bought a new position in shares of ALX Oncology in the second quarter valued at $26,671,201. Institutional investors and hedge funds own 97.97% of the company's stock.

ALX Oncology Stock Performance

Shares of ALXO stock opened at $1.22 on Friday. The stock has a market cap of $168.70 million, a PE ratio of -1.08 and a beta of 0.47. The business has a 50-day simple moving average of $1.85 and a 200-day simple moving average of $1.87. The company has a quick ratio of 9.71, a current ratio of 9.71 and a debt-to-equity ratio of 0.07. ALX Oncology has a 52-week low of $1.05 and a 52-week high of $2.66.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. On average, equities analysts expect that ALX Oncology will post -0.59 EPS for the current year.

ALX Oncology Company Profile

ALX Oncology Holdings Inc is a clinical-stage biotechnology company focused on developing therapies that activate the immune system to fight cancer. The company's approach targets the CD47-SIRPα pathway, an innate immune checkpoint that cancer cells can use to avoid being identified and destroyed by macrophages and other immune cells.

ALX Oncology's lead product candidate is evorpacept, formerly known as ALX148. Evorpacept is an investigational fusion protein designed to block the CD47 “don't eat me” signal while limiting the binding of normal blood cells.

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