ALX Oncology (NASDAQ:ALXO) Stock Price Down 3.4% - Here's Why

Key Points

• ALX Oncology shares fell 3.4% to $1.13 during Monday trading, with volume 31% below the average daily level. The stock remains below its 50-day and 200-day moving averages.
• Analysts maintain a consensus “Moderate Buy” rating and a $4.60 price target, despite Weiss Ratings upgrading the stock only to a less-negative “sell” rating.
• Institutional investors own approximately 97.97% of the company, while ALX Oncology reported quarterly EPS of -$0.13, beating the -$0.14 consensus estimate by $0.01.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report)'s stock price was down 3.4% during trading on Monday. The company traded as low as $1.09 and last traded at $1.13. 1,037,528 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 1,498,704 shares. The stock had previously closed at $1.17.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded ALX Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $4.60.

ALX Oncology Stock Down 3.4%

The business's fifty day moving average price is $1.58 and its two-hundred day moving average price is $1.82. 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 firm has a market capitalization of $156.26 million, a P/E ratio of -1.00 and a beta of 0.47.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. Equities analysts expect that ALX Oncology Holdings Inc. will post -0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ALX Oncology

Institutional investors and hedge funds have recently bought and sold shares of the company. venBio Partners LLC acquired a new stake in ALX Oncology in the second quarter worth about $26,671,201. BlackRock Inc. purchased a new stake in shares of ALX Oncology during the second quarter worth about $15,317,000. Redmile Group LLC increased its holdings in shares of ALX Oncology by 143.9% during the first quarter. Redmile Group LLC now owns 7,964,188 shares of the company's stock valued at $15,968,000 after acquiring an additional 4,699,470 shares in the last quarter. Vivo Capital LLC acquired a new position in shares of ALX Oncology during the first quarter valued at about $6,385,000. Finally, 5AM Venture Management LLC acquired a new position in shares of ALX Oncology during the second quarter valued at about $6,328,663. 97.97% of the stock is owned by hedge funds and other institutional investors.

About ALX Oncology

ALX Oncology Holdings Inc NASDAQ: ALXO is a clinical-stage biopharmaceutical company focused on developing immunotherapies for the treatment of cancer. The company's research centers on the CD47-SIRPα pathway, an immune checkpoint that cancer cells can use to evade detection and destruction by the immune system.

ALX Oncology's lead product candidate is evorpacept, also known as ALX148, an investigational protein designed to block CD47 while supporting the activity of therapeutic antibodies and other anti-cancer treatments.

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