ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $4.50 Average Price Target from Analysts

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.60.

Several research firms recently weighed in on ALXO. UBS Group initiated coverage on ALX Oncology in a research note on Friday, March 6th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a report 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. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of ALX Oncology in a report on Tuesday, March 10th. Finally, Wells Fargo & Company assumed coverage on shares of ALX Oncology in a research report on Thursday, March 19th. They issued an “overweight” rating and a $5.00 target price on the stock.

Insider Activity

In related news, CEO Jason Lettmann sold 12,311 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $2.17, for a total transaction of $26,714.87. Following the transaction, the chief executive officer owned 293,609 shares in the company, valued at $637,131.53. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Corey S. Goodman purchased 3,184,713 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $13,271,269.66. This trade represents a 60.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 17,139 shares of company stock worth $33,031. Corporate insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its position in ALX Oncology by 16.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after purchasing an additional 186,883 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in ALX Oncology in the third quarter valued at $1,195,000. Two Sigma Investments LP raised its holdings in shares of ALX Oncology by 26.9% in the third 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 last quarter. Renaissance Technologies LLC raised its holdings in shares of ALX Oncology by 157.2% in the fourth quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock valued at $478,000 after buying an additional 258,600 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of ALX Oncology during the second quarter worth about $84,000. 97.97% of the stock is owned by institutional investors and hedge funds.

ALX Oncology Stock Performance

NASDAQ:ALXO opened at $2.04 on Wednesday. ALX Oncology has a 12 month low of $0.40 and a 12 month high of $2.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $268.48 million, a PE ratio of -1.07 and a beta of 0.47. The business’s fifty day moving average price is $1.99 and its 200 day moving average price is $1.64.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly 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.

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.