ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $4.60 Consensus Target Price from Brokerages

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has received an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.60.

Several equities analysts recently commented on the stock. Piper Sandler increased their target price on shares of ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of ALX Oncology in a report on Tuesday, March 10th. UBS Group assumed coverage on shares of ALX Oncology in a report on Friday, March 6th. They set a “buy” rating and a $6.00 target price on the stock. Finally, Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday.

ALX Oncology Price Performance

Shares of NASDAQ:ALXO opened at $2.08 on Thursday. The company’s fifty day moving average price is $1.93 and its 200-day moving average price is $1.70. The firm has a market capitalization of $279.88 million, a price-to-earnings ratio of -1.40 and a beta of 0.41. ALX Oncology has a one year low of $0.40 and a one year high of $2.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.07 and a quick ratio of 2.07.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). On average, equities research analysts anticipate that ALX Oncology will post -0.63 earnings per share for the current fiscal year.

Insider Activity at ALX Oncology

In related news, CEO Jason Lettmann sold 12,311 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the transaction, the chief executive officer owned 293,609 shares of the company’s stock, valued at approximately $637,131.53. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. bought a new position in shares of ALX Oncology during the 1st quarter valued at $46,000. Bridgeway Capital Management LLC bought a new stake in ALX Oncology in the 3rd quarter worth $66,000. AQR Capital Management LLC grew its holdings in ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after acquiring an additional 77,065 shares during the last quarter. Jane Street Group LLC bought a new stake in ALX Oncology in the 2nd quarter worth $84,000. Finally, Seven Fleet Capital Management LP bought a new stake in ALX Oncology in the 4th quarter worth $133,000. Institutional investors own 97.97% of the company’s stock.

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.