ALX Oncology Holdings Inc. (NASDAQ:ALXO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five 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 $4.60.

ALXO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research note on Friday, June 26th. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Institutional Investors Weigh In On ALX Oncology

Hedge funds have recently bought and sold shares of the company. Redmile Group LLC grew its holdings in ALX Oncology by 143.9% during the first quarter. Redmile Group LLC now owns 7,964,188 shares of the company’s stock worth $15,968,000 after purchasing an additional 4,699,470 shares during the period. Vivo Capital LLC acquired a new stake in shares of ALX Oncology in the first quarter valued at approximately $6,385,000. venBio Partners LLC lifted its position in shares of ALX Oncology by 32.8% in the first quarter. venBio Partners LLC now owns 12,884,638 shares of the company’s stock valued at $25,834,000 after buying an additional 3,184,713 shares during the last quarter. Orbimed Advisors LLC bought a new position in shares of ALX Oncology during the 1st quarter worth approximately $5,747,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of ALX Oncology during the 3rd quarter worth approximately $1,195,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

ALX Oncology Trading Up 0.5%

ALX Oncology stock opened at $2.03 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.21 and a quick ratio of 7.21. The firm has a 50-day moving average of $1.88 and a 200-day moving average of $1.88. The company has a market cap of $273.16 million, a price-to-earnings ratio of -1.36 and a beta of 0.42. ALX Oncology has a one year low of $0.51 and a one year high of $2.66.

ALX Oncology (NASDAQ:ALXO) last released its earnings results on Friday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). On average, equities analysts expect that ALX Oncology will post -0.66 earnings per share for the current fiscal year.

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.