7,399,530 Shares in ALX Oncology Holdings Inc. $ALXO Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 7,399,530 shares of ALX Oncology in the second quarter, worth approximately $15.3 million and representing a 5.50% stake.
• Institutional ownership remains very high at 97.97%, while analysts give ALXO a “Moderate Buy” consensus rating with a $4.60 price target.
• ALX Oncology reported a quarterly loss of $0.13 per share, beating expectations by $0.01. The stock opened at $2.03, compared with a 52-week range of $0.99 to $2.66.

BlackRock Inc. bought a new stake in shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,399,530 shares of the company's stock, valued at approximately $15,317,000. BlackRock Inc. owned 5.50% of ALX Oncology at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bridgeway Capital Management LLC bought a new stake in shares of ALX Oncology during the 3rd quarter valued at $66,000. Invesco Ltd. purchased a new stake in ALX Oncology in the first quarter worth about $46,000. OMERS ADMINISTRATION Corp purchased a new stake in ALX Oncology in the first quarter worth about $150,000. Deutsche Bank AG bought a new position in shares of ALX Oncology in the second quarter worth about $222,000. Finally, Seven Fleet Capital Management LP bought a new position in shares of ALX Oncology in the fourth quarter worth about $133,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ALX Oncology Stock Performance

NASDAQ ALXO opened at $2.03 on Friday. 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 Holdings Inc. has a twelve month low of $0.99 and a twelve month high of $2.66. The business has a 50-day moving average price of $2.03 and a 200-day moving average price of $1.96. The firm has a market cap of $280.71 million, a price-to-earnings ratio of -1.80 and a beta of 0.39.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. As a group, equities research analysts predict that ALX Oncology Holdings Inc. will post -0.6 EPS for the current fiscal year.

ALX Oncology Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source