ALX Oncology (NASDAQ:ALXO) Posts Earnings Results, Misses Expectations By $0.02 EPS

ALX Oncology (NASDAQ:ALXO) announced its quarterly earnings data on Friday. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02), FiscalAI reports.

Here are the key takeaways from ALX Oncology’s conference call:

• The ESMO Breast dataset showed that the evorpacept + zanidatamab combination produced strong activity in heavily pretreated HER2+ patients, with centrally confirmed HER2+ / CD47-high tumors (n=5) achieving a 100% confirmed response, a median duration of response of ~20 months, and a CD47≥20% subgroup median PFS of ~22 months.
• These breast results are consistent with the randomized ASPEN-06 gastric trial, where the CD47-high subset showed higher ORRs (up to ~65%), long DOR (~25.5 months) and a PFS benefit (median ~18.4 months; HR ~0.39), supporting CD47 as a predictive biomarker across indications.
• The company reports strong execution and runway — ASPEN-09 (single-arm breast Phase II) is enrolling well with an interim readout of ~80 patients planned mid-2027 to validate CD47 cutoffs, supported by a February financing and the hire of experienced CDO/COO Jeff Knight.
• Second program ALX2004, a differentiated EGFR-targeted ADC, is advancing in Phase I dose escalation (doses up to 4 mg/kg reported) and remains on track for an initial safety readout in H2 2026, representing a separate near-term catalyst.
• Important caveats remain — the CD47 biomarker analyses are small and exploratory (very small n in key subgroups), the optimal IHC cutoff is unresolved, and the company notes that a registrational Phase III (rather than accelerated approval) is the base-case regulatory path, adding development and regulatory risk.

ALX Oncology Trading Up 11.2%

ALXO stock opened at $2.08 on Friday. The company’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $1.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.17. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.66. The firm has a market cap of $279.88 million, a P/E ratio of -1.09 and a beta of 0.41.

Insider Activity

In other news, CEO Jason Lettmann sold 12,311 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the sale, the chief executive officer directly owned 293,609 shares of the company’s stock, valued at $637,131.53. This represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ALX Oncology

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in ALX Oncology by 11.0% in the 4th quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after buying an additional 12,300 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in ALX Oncology in the 3rd quarter valued at about $66,000. Invesco Ltd. purchased a new position in ALX Oncology in the 1st quarter valued at about $46,000. AQR Capital Management LLC lifted its stake in ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after buying an additional 77,065 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in ALX Oncology by 26.9% in the 3rd quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after buying an additional 128,737 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on ALX Oncology in a research report on Thursday, March 19th. They issued an “overweight” rating and a $5.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, January 21st. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday. HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of ALX Oncology in a research report on Tuesday, March 10th. Finally, Piper Sandler upped their target price on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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.