ALX Oncology (NASDAQ:ALXO) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

ALX Oncology (NASDAQ:ALXO) announced its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01, FiscalAI reports.

ALX Oncology Price Performance

ALXO stock traded up $0.19 during midday trading on Thursday, reaching $2.11. 580,863 shares of the company’s stock traded hands, compared to its average volume of 645,231. The company has a 50-day simple moving average of $1.88 and a two-hundred day simple moving average of $1.93. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.02. ALX Oncology has a 1-year low of $0.60 and a 1-year high of $2.66. The company has a market cap of $283.92 million, a price-to-earnings ratio of -1.42 and a beta of 0.42.

Institutional Trading of ALX Oncology

Several large investors have recently made changes to their positions in the business. Invesco Ltd. acquired a new stake in shares of ALX Oncology in the first quarter valued at $46,000. Bridgeway Capital Management LLC bought a new position in shares of ALX Oncology in the third quarter valued at about $66,000. AQR Capital Management LLC lifted its position in ALX Oncology by 183.6% during the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after buying an additional 77,065 shares in the last quarter. Jane Street Group LLC acquired a new position in ALX Oncology during the 2nd quarter worth about $84,000. Finally, State Street Corp grew its holdings in ALX Oncology by 11.0% during the 4th quarter. State Street Corp now owns 124,228 shares of the company’s stock worth $140,000 after acquiring an additional 12,300 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Analyst Upgrades and Downgrades

ALXO has been the subject of a number of analyst reports. Weiss Ratings cut ALX Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.60.

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.