ALX Oncology (NASDAQ:ALXO) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

ALX Oncology (NASDAQ:ALXO) announced its quarterly earnings data on Friday. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04), Zacks reports.

ALX Oncology Stock Up 16.9%

Shares of NASDAQ:ALXO opened at $1.38 on Friday. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.27. The stock has a market cap of $73.90 million, a P/E ratio of -0.68 and a beta of 1.23. The business has a fifty day moving average of $1.50 and a two-hundred day moving average of $0.90. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.11.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.30.

Insider Buying and Selling at ALX Oncology

In other news, CEO Jason Lettmann acquired 71,163 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was purchased at an average price of $1.08 per share, with a total value of $76,856.04. Following the completion of the acquisition, the chief executive officer owned 305,121 shares of the company’s stock, valued at $329,530.68. This trade represents a 30.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 21.00% of the company’s stock.

Institutional Trading of ALX Oncology

Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. purchased a new stake in shares of ALX Oncology during the 1st quarter valued at approximately $46,000. AQR Capital Management LLC grew its position in ALX Oncology by 183.6% in the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after acquiring an additional 77,065 shares during the period. Jane Street Group LLC acquired a new stake in ALX Oncology during the second quarter worth $84,000. Finally, Acadian Asset Management LLC raised its position in ALX Oncology by 16.8% in the first 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 period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Company Profile

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.