ALX Oncology (NASDAQ:ALXO) Director Corey Goodman Buys 3,184,713 Shares

ALX Oncology Holdings Inc. (NASDAQ:ALXO) Director Corey Goodman bought 3,184,713 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the acquisition, the director directly owned 8,453,038 shares in the company, valued at $13,271,269.66. The trade was a 60.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

ALX Oncology Stock Up 7.5%

NASDAQ:ALXO opened at $2.01 on Thursday. ALX Oncology Holdings Inc. has a 52 week low of $0.40 and a 52 week high of $2.27. The stock’s fifty day moving average is $1.39 and its two-hundred day moving average is $1.29. The stock has a market capitalization of $108.98 million, a price-to-earnings ratio of -0.99 and a beta of 0.51. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.13.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Research analysts anticipate that ALX Oncology Holdings Inc. will post -2.76 EPS for the current year.

Wall Street Analyst Weigh In

ALXO has been the subject of several recent research reports. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Jefferies Financial Group initiated coverage on shares of ALX Oncology in a research report on Thursday, November 13th. They issued a “buy” rating and a $4.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ALX Oncology currently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in shares of ALX Oncology by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after acquiring an additional 186,883 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in ALX Oncology in the third quarter valued at approximately $1,195,000. Two Sigma Investments LP raised its holdings in ALX Oncology by 26.9% during 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. Jane Street Group LLC purchased a new stake in shares of ALX Oncology during the 2nd quarter worth approximately $84,000. Finally, AQR Capital Management LLC boosted its holdings in shares of ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after buying an additional 77,065 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Company Profile

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.