ALX Oncology (NASDAQ:ALXO) Sees Large Volume Increase

ALX Oncology Holdings Inc. (NASDAQ:ALXO) shares saw unusually-strong trading volume on Tuesday . Approximately 746,319 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 398,070 shares.The stock last traded at $13.86 and had previously closed at $12.89.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ALXO shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $14.00 price target (up from $10.00) on shares of ALX Oncology in a report on Friday, March 8th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of ALX Oncology in a report on Wednesday, April 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.83.

ALX Oncology Price Performance

The company has a market capitalization of $709.12 million, a P/E ratio of -3.66 and a beta of 1.58. The business’s 50-day simple moving average is $13.52 and its 200 day simple moving average is $11.77. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.05.

ALX Oncology (NASDAQ:ALXO) last released its earnings results on Thursday, March 7th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). As a group, sell-side analysts anticipate that ALX Oncology Holdings Inc. will post -3.33 EPS for the current year.

Insider Activity

In other ALX Oncology news, insider Jaume Pons sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $11.15, for a total value of $223,000.00. Following the completion of the sale, the insider now directly owns 628,359 shares of the company’s stock, valued at $7,006,202.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jason Lettmann acquired 4,400 shares of ALX Oncology stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $11.31 per share, for a total transaction of $49,764.00. Following the completion of the purchase, the chief executive officer now owns 171,620 shares of the company’s stock, valued at $1,941,022.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jaume Pons sold 20,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $11.15, for a total transaction of $223,000.00. Following the transaction, the insider now owns 628,359 shares of the company’s stock, valued at $7,006,202.85. The disclosure for this sale can be found here. 50.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On ALX Oncology

Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in shares of ALX Oncology by 42.6% in the 4th quarter. Legal & General Group Plc now owns 2,289 shares of the company’s stock valued at $34,000 after buying an additional 684 shares in the last quarter. Credit Suisse AG grew its holdings in shares of ALX Oncology by 6.6% in the 2nd quarter. Credit Suisse AG now owns 15,157 shares of the company’s stock worth $121,000 after purchasing an additional 940 shares during the last quarter. American International Group Inc. grew its holdings in shares of ALX Oncology by 14.1% in the 2nd quarter. American International Group Inc. now owns 10,040 shares of the company’s stock worth $81,000 after purchasing an additional 1,237 shares during the last quarter. Swiss National Bank grew its holdings in shares of ALX Oncology by 8.5% in the 1st quarter. Swiss National Bank now owns 19,200 shares of the company’s stock worth $324,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of ALX Oncology in the 4th quarter worth about $28,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

About ALX Oncology

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.