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

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2.50.

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of ALX Oncology in a research report on Thursday, November 13th. They issued a “buy” rating and a $4.00 price objective for the company. 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 research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, January 21st. Finally, Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd.

ALX Oncology Trading Down 5.8%

ALX Oncology stock opened at $2.45 on Friday. The stock has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.44. ALX Oncology has a 52 week low of $0.40 and a 52 week high of $2.66. The stock has a market cap of $132.84 million, a PE ratio of -1.21 and a beta of 0.51. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. acquired a new stake in shares of ALX Oncology in the first quarter worth approximately $46,000. AQR Capital Management LLC increased its position 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. Acadian Asset Management LLC raised its stake in ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after purchasing an additional 186,883 shares during the period. Jane Street Group LLC acquired a new position in shares of ALX Oncology in the 2nd quarter valued at $84,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology in the 3rd quarter valued at $66,000. Institutional investors and hedge funds 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.