ALX Oncology (NASDAQ:ALXO) Issues Quarterly Earnings Results

ALX Oncology (NASDAQ:ALXO) issued its earnings results on Monday. The company reported ($0.42) earnings per share for the quarter, FiscalAI reports.

ALX Oncology Stock Performance

Shares of ALXO opened at $2.13 on Tuesday. The firm has a market capitalization of $115.49 million, a PE ratio of -1.12 and a beta of 0.46. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $1.80 and a 200 day moving average price of $1.56. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.66.

Analyst Upgrades and Downgrades

ALXO has been the subject of several recent research reports. Piper Sandler upped their price target 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. UBS Group began coverage on shares of ALX Oncology in a research note on Friday. They set a “buy” rating and a $6.00 target price for the company. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Monday, December 22nd. Jefferies Financial Group initiated coverage on shares of ALX Oncology in a research note on Thursday, November 13th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ALX Oncology currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Insider Activity at ALX Oncology

In related news, Director Corey S. Goodman purchased 3,184,713 shares of ALX Oncology stock in a transaction dated Monday, February 2nd. The stock was bought 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. The trade was a 60.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.00% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position 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 purchasing an additional 186,883 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of ALX Oncology in the third quarter valued at $1,195,000. Two Sigma Investments LP boosted its stake in ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after buying an additional 128,737 shares in the last quarter. Renaissance Technologies LLC grew its holdings in ALX Oncology by 157.2% during the fourth quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after acquiring an additional 258,600 shares during the period. Finally, Jane Street Group LLC acquired a new position in ALX Oncology during the second quarter worth about $84,000. 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.