Almitas Capital LLC Buys Shares of 2,938,431 ALX Oncology Holdings Inc. $ALXO

Key Points

• Almitas Capital initiated a position of 2,938,431 ALX Oncology shares worth approximately $6.1 million, representing 2.12% of the company and 1.5% of the fund’s portfolio.
• Institutional ownership remains high at 97.97%, with several hedge funds and asset managers recently adding or initiating positions in ALX Oncology.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $4.60, while ALXO recently opened at $2.05 and reported quarterly EPS of -$0.13, beating estimates by $0.01.

Almitas Capital LLC bought a new position in ALX Oncology Holdings Inc. (NASDAQ:ALXO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,938,431 shares of the company's stock, valued at approximately $6,083,000. ALX Oncology makes up about 1.5% of Almitas Capital LLC's portfolio, making the stock its 16th largest holding. Almitas Capital LLC owned 2.12% of ALX Oncology as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its position in ALX Oncology by 11.0% during the fourth quarter. State Street Corp now owns 124,228 shares of the company's stock worth $140,000 after buying an additional 12,300 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of ALX Oncology during the 2nd quarter valued at about $46,000. The Manufacturers Life Insurance Company acquired a new position in shares of ALX Oncology during the 2nd quarter valued at about $64,000. Bridgeway Capital Management LLC bought a new position in shares of ALX Oncology in the 3rd quarter valued at approximately $66,000. Finally, Bank of America Corp DE raised its stake in shares of ALX Oncology by 8.6% in the 1st quarter. Bank of America Corp DE now owns 577,783 shares of the company's stock valued at $1,158,000 after acquiring an additional 45,938 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company's stock.

Analyst Ratings Changes

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

ALX Oncology Stock Performance

ALXO opened at $2.05 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. The stock's 50 day moving average price is $2.00 and its two-hundred day moving average price is $1.97. The firm has a market capitalization of $283.47 million, a P/E ratio of -1.81 and a beta of 0.42. ALX Oncology Holdings Inc. has a 12-month low of $0.96 and a 12-month high of $2.66.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. On average, equities analysts forecast that ALX Oncology Holdings Inc. 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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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.

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