MPM Bioimpact LLC Lowers Stake in ALX Oncology Holdings Inc. $ALXO

Key Points

• MPM Bioimpact LLC has reduced its stake in ALX Oncology Holdings Inc. by 60.5%, resulting in ownership of 550,000 shares valued at $343,000.
• Bank of America Corp DE significantly increased its position in ALX Oncology by 492.9%, owning over 1 million shares valued at approximately $1.73 million.
• ALX Oncology's stock received mixed analyst ratings, with a downgrade to "sell" from Wall Street Zen and a lowered price target from HC Wainwright to $2.00.

MPM Bioimpact LLC reduced its position in ALX Oncology Holdings Inc. (NASDAQ:ALXO - Free Report) by 60.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 550,000 shares of the company's stock after selling 841,434 shares during the period. MPM Bioimpact LLC owned about 1.03% of ALX Oncology worth $343,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ALXO. Bank of America Corp DE grew its position in shares of ALX Oncology by 492.9% in the fourth quarter. Bank of America Corp DE now owns 1,035,326 shares of the company's stock valued at $1,729,000 after purchasing an additional 860,703 shares during the period. Two Sigma Advisers LP increased its stake in shares of ALX Oncology by 64.6% during the 4th quarter. Two Sigma Advisers LP now owns 823,900 shares of the company's stock valued at $1,376,000 after acquiring an additional 323,400 shares during the last quarter. Nuveen LLC acquired a new position in shares of ALX Oncology during the 1st quarter valued at about $103,000. Deutsche Bank AG increased its stake in shares of ALX Oncology by 521.0% during the 4th quarter. Deutsche Bank AG now owns 101,113 shares of the company's stock valued at $169,000 after acquiring an additional 84,830 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology during the 4th quarter valued at about $125,000. Hedge funds and other institutional investors own 97.97% of the company's stock.

Analysts Set New Price Targets

ALXO has been the topic of a number of research reports. Wall Street Zen downgraded ALX Oncology from a "hold" rating to a "sell" rating in a report on Friday, June 6th. HC Wainwright cut their price objective on ALX Oncology from $5.00 to $2.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, UBS Group cut their price objective on ALX Oncology from $1.20 to $1.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ALX Oncology presently has a consensus rating of "Moderate Buy" and an average target price of $3.30.

ALX Oncology Price Performance

Shares of NASDAQ ALXO opened at $1.17 on Tuesday. ALX Oncology Holdings Inc. has a fifty-two week low of $0.40 and a fifty-two week high of $2.42. The business has a 50 day moving average price of $0.65 and a two-hundred day moving average price of $0.65. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.11. The firm has a market cap of $62.65 million, a PE ratio of -0.53 and a beta of 1.10.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). Sell-side analysts expect that ALX Oncology Holdings Inc. will post -2.76 earnings per share for the current fiscal year.

ALX Oncology Profile

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.

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