ALX Oncology’s (ALXO) Buy Rating Reiterated at HC Wainwright

ALX Oncology (NASDAQ:ALXO)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $4.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 87.79% from the company’s previous close.

Several other equities analysts have also commented on the stock. Jefferies Financial Group initiated coverage on shares of ALX Oncology in a research report on Thursday, November 13th. They set a “buy” rating and a $4.00 price objective for the company. UBS Group initiated coverage on ALX Oncology in a report on Friday. They set a “buy” rating and a $6.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Piper Sandler raised their price objective on shares of ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ALX Oncology has an average rating of “Moderate Buy” and a consensus target price of $4.50.

ALX Oncology Trading Down 3.6%

Shares of ALX Oncology stock opened at $2.13 on Tuesday. The company has a fifty day moving average of $1.80 and a 200 day moving average of $1.56. ALX Oncology has a fifty-two week low of $0.40 and a fifty-two week high of $2.66. The company has a market capitalization of $115.49 million, a P/E ratio of -1.12 and a beta of 0.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.40 and a current ratio of 2.40.

ALX Oncology (NASDAQ:ALXO) last released its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share (EPS) for the quarter. On average, sell-side analysts anticipate that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Corey S. Goodman bought 3,184,713 shares of the stock in a transaction dated Monday, February 2nd. The shares were purchased at an average price of $1.57 per share, for a total transaction of $4,999,999.41. Following the completion of the purchase, the director directly owned 8,453,038 shares of the company’s stock, valued at $13,271,269.66. This represents a 60.45% increase in their ownership of the stock. The purchase 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

A number of hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new stake in shares of ALX Oncology in the third quarter valued at about $1,195,000. Renaissance Technologies LLC grew its position in ALX Oncology by 157.2% in the 4th quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock valued at $478,000 after acquiring an additional 258,600 shares in the last quarter. Jane Street Group LLC purchased a new stake in ALX Oncology during the 2nd quarter worth approximately $84,000. Acadian Asset Management LLC raised its stake in shares of ALX Oncology by 16.8% in the first 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 in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of 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 during the period. Institutional investors and hedge funds 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.