Insider Selling: ALX Oncology (NASDAQ:ALXO) CEO Sells 12,311 Shares of Stock

ALX Oncology Holdings Inc. (NASDAQ:ALXO) CEO Jason Lettmann sold 12,311 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 293,609 shares in the company, valued at approximately $637,131.53. The trade was a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ALX Oncology Stock Up 0.9%

ALXO traded up $0.02 during midday trading on Monday, reaching $2.20. 913,526 shares of the company were exchanged, compared to its average volume of 670,428. The company has a market cap of $289.54 million, a price-to-earnings ratio of -1.16 and a beta of 0.46. ALX Oncology Holdings Inc. has a one year low of $0.40 and a one year high of $2.66. The company’s fifty day moving average price is $1.96 and its 200 day moving average price is $1.63. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.07 and a current ratio of 2.07.

ALX Oncology (NASDAQ:ALXO) last posted its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter. As a group, analysts expect that ALX Oncology Holdings Inc. will post -2.76 EPS for the current year.

Institutional Investors Weigh In On ALX Oncology

A number of hedge funds have recently made changes to their positions in ALXO. Invesco Ltd. purchased a new position in shares of ALX Oncology in the 1st quarter worth about $46,000. AQR Capital Management LLC increased its holdings 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 last quarter. Acadian Asset Management LLC raised its position in ALX Oncology by 16.8% in the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after acquiring an additional 186,883 shares during the period. Jane Street Group LLC purchased a new position in ALX Oncology in the second quarter valued at about $84,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of ALX Oncology during the 3rd quarter valued at approximately $66,000. 97.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ALXO. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Monday, December 22nd. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of ALX Oncology in a research report on Tuesday, March 10th. Piper Sandler boosted their price target on shares of ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, January 21st. Finally, Wells Fargo & Company began coverage on shares of ALX Oncology in a research note on Thursday. They issued an “overweight” rating and a $5.00 price objective for the company. Five 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, ALX Oncology presently has an average rating of “Moderate Buy” and a consensus target price 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.