ALX Oncology (NASDAQ:ALXO) Releases Earnings Results, Misses Expectations By $0.04 EPS

ALX Oncology (NASDAQ:ALXO) announced its quarterly earnings data on Friday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04), Zacks reports.

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

• Evorpacept (EVO)
• The Phase 2 ASPEN‑09‑Breast trial has been expanded from 80 to up to 120 patients and the primary endpoint was refocused to response rate in CD47‑high patients, with top‑line data for the 80‑patient cohort expected in mid‑2027 and a companion diagnostic in development.
• ALX2004 (EGFR‑targeted ADC) is in dose escalation (now dosing 4 mg/kg after clearing 1 and 2 mg/kg cohorts); company expects full dose‑escalation safety data in H2 2026 and highlights preclinical signals of potent activity with limited ILD/skin toxicity in NHP studies.
• ALX completed an equity financing (gross $150M; net ~$140.4M) and says cash on hand now supports operations through the first half of 2028, strengthening the balance sheet to fund near‑term catalysts across both programs.
• Q4 GAAP net loss narrowed to $22.8M from $29.2M a year earlier and management says spending will be concentrated on EVO and ALX2004 while legacy trials wind down, reducing some near‑term spend but concentrating program risk on two assets.

ALX Oncology Stock Down 10.2%

Shares of ALX Oncology stock traded down $0.24 during trading on Friday, reaching $2.11. The company’s stock had a trading volume of 1,020,473 shares, compared to its average volume of 697,138. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.66. The company has a 50-day simple moving average of $1.69 and a two-hundred day simple moving average of $1.49. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.13. The company has a market cap of $114.40 million, a price-to-earnings ratio of -1.04 and a beta of 0.51.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Jefferies Financial Group began coverage on shares of ALX Oncology in a research note on Thursday, November 13th. They issued a “buy” rating and a $4.00 price objective for the company. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2.50.

Insider Buying and Selling

In other ALX Oncology news, Director Corey S. Goodman purchased 3,184,713 shares of the stock in a transaction on Monday, February 2nd. The stock was acquired at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the completion of the acquisition, the director owned 8,453,038 shares in the company, valued at $13,271,269.66. The trade was a 60.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. acquired a new position in ALX Oncology during the 1st quarter valued at approximately $46,000. Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology in the 3rd quarter valued at $66,000. AQR Capital Management LLC increased its position 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 acquiring an additional 77,065 shares during the period. Jane Street Group LLC purchased a new position in ALX Oncology in the 2nd quarter worth $84,000. Finally, State Street Corp grew its stake in ALX Oncology by 11.0% during the 4th quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after purchasing an additional 12,300 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.

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