5AM Venture Management LLC Invests $6.33 Million in ALX Oncology Holdings Inc. $ALXO

5AM Venture Management LLC acquired a new stake in shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,057,325 shares of the company's stock, valued at approximately $6,328,663. ALX Oncology makes up approximately 0.0% of 5AM Venture Management LLC's portfolio, making the stock its 14th largest holding. 5AM Venture Management LLC owned 2.21% of ALX Oncology at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. venBio Partners LLC grew its stake in ALX Oncology by 32.8% during the 1st quarter. venBio Partners LLC now owns 12,884,638 shares of the company's stock valued at $25,834,000 after acquiring an additional 3,184,713 shares in the last quarter. Redmile Group LLC boosted its position in shares of ALX Oncology by 143.9% during the 1st quarter. Redmile Group LLC now owns 7,964,188 shares of the company's stock worth $15,968,000 after purchasing an additional 4,699,470 shares during the period. BlackRock Inc. purchased a new position in shares of ALX Oncology during the 2nd quarter worth approximately $15,317,000. Vivo Capital LLC purchased a new position in shares of ALX Oncology during the 1st quarter worth approximately $6,385,000. Finally, Orbimed Advisors LLC purchased a new position in shares of ALX Oncology during the 1st quarter worth approximately $5,747,000. Hedge funds and other institutional investors own 97.97% of the company's stock.

Analysts Set New Price Targets

ALXO has been the subject of a number of research analyst reports. Weiss Ratings raised shares of ALX Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 19th. Wall Street Zen raised shares of ALX Oncology from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.60.

ALX Oncology Price Performance

ALX Oncology stock opened at $2.00 on Friday. The firm has a market cap of $276.56 million, a PE ratio of -1.77 and a beta of 0.42. ALX Oncology Holdings Inc. has a 52-week low of $0.96 and a 52-week high of $2.66. The company has a quick ratio of 9.71, a current ratio of 9.71 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $2.01 and its two-hundred day moving average is $1.97.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. On average, research analysts expect that ALX Oncology Holdings Inc. will post -0.6 EPS 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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