ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3.50.

ALXO has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, January 21st. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Jefferies Financial Group began coverage on shares of ALX Oncology in a research report on Thursday, November 13th. They set a “buy” rating and a $4.00 price target on the stock.

Hedge Funds Weigh In On ALX Oncology

Large investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. purchased a new stake in shares of ALX Oncology in the 3rd quarter worth about $1,195,000. Jane Street Group LLC purchased a new position in shares of ALX Oncology during the second quarter valued at about $84,000. Acadian Asset Management LLC raised its stake in ALX Oncology by 16.8% in the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after buying an additional 186,883 shares in the last quarter. Two Sigma Investments LP lifted its holdings in ALX Oncology by 26.9% in the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock worth $1,110,000 after buying an additional 128,737 shares during the period. Finally, AQR Capital Management LLC boosted its position in ALX Oncology by 183.6% during the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after acquiring an additional 77,065 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Stock Performance

NASDAQ ALXO opened at $1.48 on Tuesday. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.27. The company has a fifty day moving average of $1.36 and a 200-day moving average of $1.24. The company has a market capitalization of $80.25 million, a P/E ratio of -0.73 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.40 and a current ratio of 2.40.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). As a group, equities research analysts predict that ALX Oncology will post -2.76 EPS for the current fiscal year.

ALX Oncology Company Profile

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.