ALX Oncology (NASDAQ:ALXO) Issues Quarterly Earnings Results

ALX Oncology (NASDAQ:ALXO) announced its earnings results on Friday. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04), Zacks reports.

ALX Oncology Trading Up 16.9%

Shares of ALXO traded up $0.20 on Friday, hitting $1.38. 755,675 shares of the stock traded hands, compared to its average volume of 799,145. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.27. The stock’s 50 day moving average is $1.49 and its two-hundred day moving average is $0.89. The firm has a market capitalization of $73.90 million, a P/E ratio of -0.63 and a beta of 1.23. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.11.

Insider Buying and Selling at ALX Oncology

In other ALX Oncology news, CEO Jason Lettmann purchased 71,163 shares of ALX Oncology stock in a transaction on Wednesday, September 17th. The shares were bought at an average price of $1.08 per share, with a total value of $76,856.04. Following the purchase, the chief executive officer directly owned 305,121 shares in the company, valued at $329,530.68. This trade represents a 30.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.00% of the stock is currently owned by corporate insiders.

Institutional Trading of ALX Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in ALXO. Invesco Ltd. purchased a new position in ALX Oncology in the first quarter valued at approximately $46,000. AQR Capital Management LLC grew its stake in ALX Oncology by 183.6% during the first 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 during the period. Acadian Asset Management LLC raised its stake in shares of ALX Oncology by 16.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after acquiring an additional 186,883 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of ALX Oncology during the 2nd quarter valued at $84,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.30.

ALX Oncology Company Profile

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.