ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $4.60 Consensus Target Price from Brokerages

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $4.60.

Several brokerages have recently issued reports on ALXO. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a report on Friday, June 26th.

Institutional Trading of ALX Oncology

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. purchased a new position in ALX Oncology in the first quarter valued at about $46,000. AQR Capital Management LLC increased its stake in shares of 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 purchasing an additional 77,065 shares during the last quarter. Acadian Asset Management LLC raised its holdings 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 worth $806,000 after purchasing an additional 186,883 shares during the period. Jane Street Group LLC bought a new stake in shares of ALX Oncology in the 2nd quarter worth approximately $84,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of ALX Oncology in the 3rd quarter worth approximately $66,000. Institutional investors own 97.97% of the company’s stock.

ALX Oncology Stock Performance

ALXO stock opened at $2.02 on Tuesday. The firm has a market cap of $271.81 million, a PE ratio of -1.36 and a beta of 0.42. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $1.88 and a 200-day moving average of $1.88. ALX Oncology has a 12-month low of $0.51 and a 12-month high of $2.66.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). As a group, sell-side analysts expect that ALX Oncology will post -0.66 earnings per share for the current year.

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.