ALX Oncology (NASDAQ:ALXO) Issues Earnings Results

ALX Oncology (NASDAQ:ALXO) issued its quarterly earnings results on Thursday. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01, FiscalAI reports.

ALX Oncology Stock Performance

Shares of NASDAQ ALXO traded up $0.19 during trading hours on Thursday, reaching $2.11. The stock had a trading volume of 580,863 shares, compared to its average volume of 645,231. The company has a market cap of $283.92 million, a price-to-earnings ratio of -1.42 and a beta of 0.42. ALX Oncology has a twelve month low of $0.60 and a twelve month high of $2.66. The business’s fifty day moving average is $1.88 and its two-hundred day moving average is $1.93. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.21 and a quick ratio of 7.21.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALXO shares. Weiss Ratings downgraded shares of ALX Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.60.

Institutional Investors Weigh In On ALX Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in shares of ALX Oncology by 157.2% during the 4th quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after acquiring an additional 258,600 shares during the period. Ameriprise Financial Inc. acquired a new position in ALX Oncology in the third quarter worth about $1,195,000. Two Sigma Investments LP raised its position in ALX Oncology by 26.9% in the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock worth $1,110,000 after purchasing an additional 128,737 shares in the last quarter. Acadian Asset Management LLC lifted its stake in ALX Oncology by 16.8% during the first 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. Finally, Bridgeway Capital Management LLC lifted its stake in ALX Oncology by 111.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 76,072 shares of the company’s stock worth $86,000 after purchasing an additional 40,072 shares during the period. 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.