venBio Partners LLC Invests $26.67 Billion in ALX Oncology Holdings Inc. $ALXO

venBio Partners LLC bought a new stake in ALX Oncology Holdings Inc. (NASDAQ:ALXO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,884,638 shares of the company’s stock, valued at approximately $26,671,201,000. ALX Oncology accounts for about 5.1% of venBio Partners LLC’s portfolio, making the stock its 5th largest position. venBio Partners LLC owned about 9.32% of ALX Oncology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Redmile Group LLC grew its holdings in shares of ALX Oncology by 143.9% in the 1st quarter. Redmile Group LLC now owns 7,964,188 shares of the company’s stock valued at $15,968,000 after acquiring an additional 4,699,470 shares in the last quarter. BlackRock Inc. acquired a new position in ALX Oncology in the 2nd quarter valued at about $15,317,000. Vivo Capital LLC bought a new position in shares of ALX Oncology during the first quarter worth approximately $6,385,000. 5AM Venture Management LLC bought a new position in ALX Oncology during the 2nd quarter worth $6,328,663,000. Finally, Almitas Capital LLC bought a new position in ALX Oncology during the second quarter worth about $6,083,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

ALX Oncology Trading Up 3.5%

ALXO opened at $2.05 on Friday. ALX Oncology Holdings Inc. has a twelve month low of $0.96 and a twelve month high of $2.66. The company has a fifty day moving average of $2.00 and a 200-day moving average of $1.97. The stock has a market cap of $283.47 million, a PE ratio of -1.81 and a beta of 0.42. The company has a quick ratio of 9.71, a current ratio of 9.71 and a debt-to-equity ratio of 0.07.

ALX Oncology (NASDAQ:ALXO) last released its earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. On average, sell-side analysts predict that ALX Oncology Holdings Inc. will post -0.6 EPS for the current year.

Analyst Ratings Changes

ALXO has been the topic of a number of recent analyst reports. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of ALX Oncology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ALX Oncology has a consensus rating of “Moderate Buy” and a consensus price target of $4.60.

About ALX Oncology

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.