ALX Oncology’s (ALXO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of ALX Oncology (NASDAQ:ALXO) in a research note issued to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $4.00 target price on the stock.

Several other research firms also recently issued reports on ALXO. UBS Group started coverage on shares of ALX Oncology in a report on Friday, March 6th. They set a “buy” rating and a $6.00 price objective on the stock. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Piper Sandler upped their price target on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Jefferies Financial Group assumed coverage on ALX Oncology in a research report on Thursday, November 13th. They issued a “buy” rating and a $4.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

ALX Oncology Stock Down 4.2%

ALXO opened at $2.04 on Tuesday. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.66. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $110.61 million, a price-to-earnings ratio of -1.07 and a beta of 0.47. The business has a 50 day moving average of $1.81 and a 200-day moving average of $1.57.

ALX Oncology (NASDAQ:ALXO) last announced its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share (EPS) for the quarter. As a group, sell-side analysts anticipate that ALX Oncology will post -2.76 earnings per share for the current year.

Insider Buying and Selling at ALX Oncology

In other ALX Oncology news, Director Corey S. Goodman purchased 3,184,713 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the completion of the transaction, the director directly owned 8,453,038 shares of the company’s stock, valued at approximately $13,271,269.66. This trade represents a 60.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

A number of hedge funds have recently modified their holdings of the stock. State Street Corp lifted its position in shares of ALX Oncology by 11.0% during the 4th 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 period. Bridgeway Capital Management LLC bought a new stake in ALX Oncology in the third quarter valued at $66,000. Invesco Ltd. acquired a new position in ALX Oncology during the first quarter worth $46,000. AQR Capital Management LLC raised its stake in ALX Oncology by 183.6% during the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after acquiring an additional 77,065 shares in the last quarter. Finally, Seven Fleet Capital Management LP bought a new position in shares of ALX Oncology during the fourth quarter valued at $133,000. 97.97% of the stock is owned by institutional investors and hedge funds.

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.