ALX Oncology (NASDAQ:ALXO) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

ALX Oncology (NASDAQ:ALXO) released its quarterly earnings results on Friday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02), FiscalAI reports.

Here are the key takeaways from ALX Oncology’s conference call:

• The ESMO Breast dataset showed that the evorpacept + zanidatamab combination produced strong activity in heavily pretreated HER2+ patients, with centrally confirmed HER2+ / CD47-high tumors (n=5) achieving a 100% confirmed response, a median duration of response of ~20 months, and a CD47?20% subgroup median PFS of ~22 months.
• These breast results are consistent with the randomized ASPEN-06 gastric trial, where the CD47-high subset showed higher ORRs (up to ~65%), long DOR (~25.5 months) and a PFS benefit (median ~18.4 months; HR ~0.39), supporting CD47 as a predictive biomarker across indications.
• The company reports strong execution and runway — ASPEN-09 (single-arm breast Phase II) is enrolling well with an interim readout of ~80 patients planned mid-2027 to validate CD47 cutoffs, supported by a February financing and the hire of experienced CDO/COO Jeff Knight.
• Second program ALX2004, a differentiated EGFR-targeted ADC, is advancing in Phase I dose escalation (doses up to 4 mg/kg reported) and remains on track for an initial safety readout in H2 2026, representing a separate near-term catalyst.
• Important caveats remain — the CD47 biomarker analyses are small and exploratory (very small n in key subgroups), the optimal IHC cutoff is unresolved, and the company notes that a registrational Phase III (rather than accelerated approval) is the base-case regulatory path, adding development and regulatory risk.

ALX Oncology Stock Performance

Shares of ALX Oncology stock traded up $0.21 on Friday, reaching $2.08. 998,148 shares of the company were exchanged, compared to its average volume of 817,265. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.07 and a current ratio of 2.07. The company’s 50-day moving average is $1.94 and its two-hundred day moving average is $1.70. The firm has a market cap of $279.88 million, a price-to-earnings ratio of -1.09 and a beta of 0.41. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.66.

Analyst Ratings Changes

Several research analysts recently commented on ALXO shares. Wells Fargo & Company started coverage on ALX Oncology in a research note on Thursday, March 19th. They issued an “overweight” rating and a $5.00 price target on the stock. UBS Group started coverage on ALX Oncology in a research note on Friday, March 6th. They issued a “buy” rating and a $6.00 price target on the stock. Piper Sandler boosted their price target on ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen cut ALX Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.60.

Insider Transactions at ALX Oncology

In related news, CEO Jason Lettmann sold 12,311 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $2.17, for a total value of $26,714.87. Following the completion of the transaction, the chief executive officer directly owned 293,609 shares of the company’s stock, valued at $637,131.53. This represents a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 21.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On ALX Oncology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALXO. Invesco Ltd. bought a new position in ALX Oncology in the 1st quarter worth approximately $46,000. Bridgeway Capital Management LLC bought a new position in ALX Oncology in the 3rd quarter worth approximately $66,000. AQR Capital Management LLC grew its holdings in ALX Oncology by 183.6% in the 1st 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 in the last quarter. Jane Street Group LLC bought a new position in ALX Oncology in the 2nd quarter worth approximately $84,000. Finally, State Street Corp grew its holdings in ALX Oncology by 11.0% in the 4th quarter. State Street Corp now owns 124,228 shares of the company’s stock worth $140,000 after buying an additional 12,300 shares in the last quarter. 97.97% of the stock is owned by institutional investors.

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.