Bank of America Corp DE Grows Position in ALX Oncology Holdings Inc. (NASDAQ:ALXO)

Bank of America Corp DE grew its stake in shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) by 492.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,035,326 shares of the company’s stock after purchasing an additional 860,703 shares during the quarter. Bank of America Corp DE owned approximately 1.96% of ALX Oncology worth $1,729,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. JSF Financial LLC purchased a new stake in ALX Oncology in the 4th quarter worth approximately $29,000. Sei Investments Co. purchased a new stake in ALX Oncology in the fourth quarter worth $102,000. Bank of New York Mellon Corp lifted its stake in ALX Oncology by 12.0% in the fourth quarter. Bank of New York Mellon Corp now owns 90,003 shares of the company’s stock worth $150,000 after acquiring an additional 9,623 shares during the period. Bank of Nova Scotia purchased a new stake in shares of ALX Oncology in the 4th quarter worth about $176,000. Finally, JPMorgan Chase & Co. lifted its position in shares of ALX Oncology by 476.7% in the 4th quarter. JPMorgan Chase & Co. now owns 236,046 shares of the company’s stock worth $394,000 after purchasing an additional 195,112 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Stock Down 0.7%

Shares of ALX Oncology stock opened at $0.55 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ALX Oncology Holdings Inc. has a 1 year low of $0.41 and a 1 year high of $9.40. The firm’s 50-day moving average is $0.51 and its two-hundred day moving average is $1.06. The stock has a market cap of $29.62 million, a price-to-earnings ratio of -0.19 and a beta of 1.21.

ALX Oncology (NASDAQ:ALXO) last announced its earnings results on Thursday, May 8th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.11). As a group, research analysts expect that ALX Oncology Holdings Inc. will post -2.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Piper Sandler lifted their target price on shares of ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. HC Wainwright decreased their price objective on shares of ALX Oncology from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday, May 9th. UBS Group cut their price target on ALX Oncology from $1.20 to $1.00 and set a “buy” rating for the company in a research note on Wednesday, May 21st. Jefferies Financial Group raised shares of ALX Oncology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.00 to $3.00 in a research report on Thursday, March 6th. Finally, Stifel Nicolaus cut their price target on ALX Oncology from $3.00 to $1.50 and set a “hold” rating for the company in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, ALX Oncology currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.30.

About ALX Oncology

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.