ALX Oncology (NASDAQ:ALXO) Receives “Buy” Rating from HC Wainwright

ALX Oncology (NASDAQ:ALXO)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $4.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 87.79% from the stock’s previous close.

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

ALX Oncology Price Performance

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

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

Insider Activity at ALX Oncology

In other ALX Oncology news, Director Corey S. Goodman acquired 3,184,713 shares of the stock in a transaction that occurred 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. The trade was a 60.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in ALX Oncology by 11.0% in the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after purchasing an additional 12,300 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology in the 3rd quarter valued at about $66,000. Invesco Ltd. acquired a new stake in shares of ALX Oncology in the first quarter worth $46,000. AQR Capital Management LLC raised its position in ALX Oncology by 183.6% in the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after purchasing an additional 77,065 shares during the period. Finally, Seven Fleet Capital Management LP acquired a new position in ALX Oncology during the 4th quarter worth approximately $133,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.