ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have received an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.30.

Several equities analysts have weighed in on ALXO shares. Jefferies Financial Group upgraded ALX Oncology from a “hold” rating to a “buy” rating and raised their target price for the company from $2.00 to $3.00 in a report on Thursday, March 6th. UBS Group reduced their target price on ALX Oncology from $1.20 to $1.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. HC Wainwright lowered their price target on ALX Oncology from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Wall Street Zen lowered shares of ALX Oncology from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. Finally, Stifel Nicolaus decreased their price objective on shares of ALX Oncology from $3.00 to $1.50 and set a “hold” rating for the company in a report on Friday, March 7th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Almitas Capital LLC bought a new position in ALX Oncology during the fourth quarter worth $2,042,000. Bank of America Corp DE grew its position in ALX Oncology by 492.9% in the 4th quarter. Bank of America Corp DE now owns 1,035,326 shares of the company’s stock worth $1,729,000 after purchasing an additional 860,703 shares during the last quarter. Bank of Montreal Can bought a new position in shares of ALX Oncology during the 4th quarter worth about $1,380,000. Two Sigma Advisers LP raised its position in shares of ALX Oncology by 64.6% during the fourth quarter. Two Sigma Advisers LP now owns 823,900 shares of the company’s stock valued at $1,376,000 after buying an additional 323,400 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of ALX Oncology by 476.7% during the fourth quarter. JPMorgan Chase & Co. now owns 236,046 shares of the company’s stock valued at $394,000 after buying an additional 195,112 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

ALX Oncology Price Performance

Shares of ALXO opened at $0.48 on Monday. The firm has a market cap of $25.85 million, a PE ratio of -0.20 and a beta of 1.16. The firm’s 50 day moving average price is $0.51 and its 200 day moving average price is $0.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.47 and a current ratio of 5.47. ALX Oncology has a twelve month low of $0.41 and a twelve month high of $8.78.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.11). As a group, research analysts expect that ALX Oncology will post -2.76 EPS for the current fiscal year.

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.