ADAR1 Capital Management LLC Purchases New Position in ALX Oncology Holdings Inc. $ALXO

Key Points

• ADAR1 Capital Management acquired 533,660 shares of ALX Oncology, valued at approximately $1.1 million, giving it a 0.39% stake. Institutional investors collectively own 97.97% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Sell rating; ALXO has a consensus rating of Moderate Buy and a $4.60 price target.
• ALXO recently reported a quarterly loss of $0.13 per share, slightly better than the expected $0.14 loss. The clinical-stage biopharmaceutical company is developing immuno-oncology treatments, led by its evorpacept candidate.

ADAR1 Capital Management LLC acquired a new position in shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 533,660 shares of the company's stock, valued at approximately $1,105,000. ADAR1 Capital Management LLC owned about 0.39% of ALX Oncology at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALXO. State Street Corp increased its stake in ALX Oncology by 11.0% during the 4th quarter. State Street Corp now owns 124,228 shares of the company's stock worth $140,000 after purchasing an additional 12,300 shares in the last quarter. Callan Family Office LLC bought a new position in ALX Oncology in the second quarter valued at approximately $46,000. The Manufacturers Life Insurance Company bought a new position in ALX Oncology in the second quarter valued at approximately $64,000. Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology in the third quarter valued at approximately $66,000. Finally, Bank of America Corp DE boosted its holdings in shares of ALX Oncology by 8.6% in the first quarter. Bank of America Corp DE now owns 577,783 shares of the company's stock valued at $1,158,000 after buying an additional 45,938 shares during the period. Institutional investors and hedge funds own 97.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. 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 raised shares of ALX Oncology from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.60.

ALX Oncology Stock Performance

ALXO opened at $2.00 on Wednesday. ALX Oncology Holdings Inc. has a 52-week low of $0.96 and a 52-week high of $2.66. The firm has a market capitalization of $276.56 million, a PE ratio of -1.77 and a beta of 0.42. 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 business's 50-day simple moving average is $1.98 and its 200 day simple moving average is $1.97.

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, sell-side analysts expect that ALX Oncology Holdings Inc. will post -0.6 earnings per share 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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