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

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

Several analysts recently issued reports on ALXO shares. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, January 21st. Piper Sandler upped their price objective 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, Jefferies Financial Group initiated coverage on shares of ALX Oncology in a research report on Thursday, November 13th. They set a “buy” rating and a $4.00 price objective for the company.

Insider Activity at ALX Oncology

In other news, Director Corey S. Goodman acquired 3,184,713 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was acquired at an average cost of $1.57 per share, with a total value of $4,999,999.41. Following the completion of the purchase, the director owned 8,453,038 shares of the company’s stock, valued at $13,271,269.66. This represents a 60.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 21.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ALX Oncology

Several institutional investors have recently bought and sold shares of ALXO. Acadian Asset Management LLC lifted its position in shares of 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 in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of ALX Oncology in the third quarter valued at approximately $1,195,000. Two Sigma Investments LP increased its stake in ALX Oncology by 26.9% during the 3rd 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. Renaissance Technologies LLC lifted its holdings in ALX Oncology by 157.2% during the 4th quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after buying an additional 258,600 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in ALX Oncology in the 2nd quarter valued at approximately $84,000. 97.97% of the stock is owned by institutional investors and hedge funds.

ALX Oncology Price Performance

NASDAQ:ALXO opened at $2.42 on Friday. ALX Oncology has a 52 week low of $0.40 and a 52 week high of $2.66. The stock’s fifty day moving average is $1.67 and its two-hundred day moving average is $1.48. The company has a market capitalization of $131.21 million, a P/E ratio of -1.19 and a beta of 0.51. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.13.

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.