ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $4.60.

ALXO has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of ALX Oncology in a report on Tuesday, March 10th. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company initiated coverage on shares of ALX Oncology in a research report on Thursday, March 19th. They set an “overweight” rating and a $5.00 price target for the company. Finally, UBS Group assumed coverage on ALX Oncology in a research note on Friday, March 6th. They set a “buy” rating and a $6.00 price target on the stock.

ALX Oncology Stock Down 5.9%

ALXO opened at $2.07 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.21 and a quick ratio of 7.21. ALX Oncology has a 12 month low of $0.41 and a 12 month high of $2.66. The stock has a market capitalization of $278.54 million, a P/E ratio of -1.39 and a beta of 0.44. The business has a 50 day simple moving average of $1.79 and a 200-day simple moving average of $1.79.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). On average, equities analysts anticipate that ALX Oncology will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ALX Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of ALX Oncology by 11.0% in the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after buying an additional 12,300 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in ALX Oncology during the 3rd quarter valued at about $66,000. Bank of America Corp DE increased its holdings in ALX Oncology by 8.6% during the 1st quarter. Bank of America Corp DE now owns 577,783 shares of the company’s stock valued at $1,158,000 after acquiring an additional 45,938 shares in the last quarter. Invesco Ltd. acquired a new position in ALX Oncology during the first quarter worth about $46,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of ALX Oncology in the first quarter valued at about $150,000. 97.97% of the stock is owned by institutional investors and hedge funds.

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.