ALX Oncology (NASDAQ:ALXO) Coverage Initiated at UBS Group

Stock analysts at UBS Group started coverage on shares of ALX Oncology (NASDAQ:ALXO) in a research note issued to investors on Friday. The firm set a “buy” rating and a $6.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 172.73% from the stock’s current price.

Several other analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, January 21st. Jefferies Financial Group assumed coverage on ALX Oncology in a research note on Thursday, November 13th. They issued a “buy” rating and a $4.00 target price for the company. Piper Sandler increased their target price on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

ALX Oncology Price Performance

ALXO traded up $0.07 during midday trading on Friday, hitting $2.20. The stock had a trading volume of 607,503 shares, compared to its average volume of 672,213. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.40 and a current ratio of 2.40. The business has a fifty day moving average of $1.76 and a 200 day moving average of $1.54. The company has a market cap of $119.28 million, a P/E ratio of -1.16 and a beta of 0.47.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). As a group, equities analysts forecast that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ALX Oncology news, Director Corey S. Goodman acquired 3,184,713 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of $1.57 per share, for a total transaction of $4,999,999.41. Following the transaction, the director owned 8,453,038 shares in the company, valued at $13,271,269.66. This represents a 60.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in ALX Oncology by 11.0% during the 4th quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after acquiring an additional 12,300 shares during the period. Seven Fleet Capital Management LP purchased a new stake in ALX Oncology in the fourth quarter worth about $133,000. Invesco Ltd. bought a new position in shares of ALX Oncology during the first quarter valued at approximately $46,000. Bridgeway Capital Management LLC bought a new position in shares of ALX Oncology during the third quarter valued at approximately $66,000. Finally, AQR Capital Management LLC lifted its holdings in shares of ALX Oncology by 183.6% during the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after purchasing an additional 77,065 shares during the last quarter. Institutional investors 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.