ALX Oncology (NASDAQ:ALXO) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of ALX Oncology (NASDAQ:ALXO) in a research note released on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $5.00 price objective on the stock.

A number of other research firms have also commented on ALXO. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Monday, December 22nd. UBS Group initiated coverage on shares of ALX Oncology in a report on Friday, March 6th. They issued a “buy” rating and a $6.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of ALX Oncology in a research report on Tuesday, March 10th. Piper Sandler raised their target price on shares of ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Five 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, ALX Oncology has an average rating of “Moderate Buy” and a consensus price target of $4.60.

ALX Oncology Stock Performance

ALXO opened at $2.19 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.07 and a quick ratio of 2.07. The business has a fifty day simple moving average of $1.95 and a 200 day simple moving average of $1.61. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.66. The company has a market capitalization of $118.74 million, a PE ratio of -1.15 and a beta of 0.47.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter. Research analysts expect that ALX Oncology will post -2.76 EPS for the current year.

Insider Transactions at ALX Oncology

In other news, Director Corey S. Goodman acquired 3,184,713 shares of ALX Oncology stock in a transaction on Monday, February 2nd. The shares were purchased at an average cost of $1.57 per share, for a total transaction of $4,999,999.41. Following the completion of the purchase, the director directly owned 8,453,038 shares of the company’s stock, valued at approximately $13,271,269.66. This represents a 60.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 21.00% of the stock is owned by insiders.

Institutional Trading of ALX Oncology

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. bought a new position in ALX Oncology in the first quarter valued at approximately $46,000. Bridgeway Capital Management LLC bought a new stake in ALX Oncology during the third quarter worth $66,000. AQR Capital Management LLC lifted 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 purchasing an additional 77,065 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of ALX Oncology in the 2nd quarter valued at $84,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of ALX Oncology in the 4th quarter valued at $133,000. Institutional investors own 97.97% of the company’s stock.

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.