ALX Oncology (NASDAQ:ALXO) Earns Buy Rating from Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group initiated coverage on shares of ALX Oncology (NASDAQ:ALXO) in a report issued on Thursday. The firm set a “buy” rating and a $4.00 price target on the stock. Jefferies Financial Group’s target price points to a potential upside of 227.87% from the company’s current price.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ALX Oncology has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

ALX Oncology Price Performance

Shares of ALXO traded down $0.06 during mid-day trading on Thursday, reaching $1.22. 205,384 shares of the company’s stock were exchanged, compared to its average volume of 788,856. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.27. The company has a quick ratio of 4.52, a current ratio of 2.40 and a debt-to-equity ratio of 0.13. The company has a market cap of $66.15 million, a price-to-earnings ratio of -0.60 and a beta of 1.23. The company has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $0.91.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). On average, sell-side analysts predict that ALX Oncology will post -2.76 EPS for the current fiscal year.

Insider Transactions at ALX Oncology

In other news, CEO Jason Lettmann purchased 71,163 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average cost of $1.08 per share, for a total transaction of $76,856.04. Following the completion of the acquisition, the chief executive officer owned 305,121 shares in the company, valued at $329,530.68. This trade represents a 30.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 21.00% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

A number of large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of ALX Oncology during the second quarter valued at approximately $84,000. Acadian Asset Management LLC grew its position in shares of ALX Oncology by 16.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after buying an additional 186,883 shares during the period. AQR Capital Management LLC lifted its holdings in shares of ALX Oncology by 183.6% during the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after purchasing an additional 77,065 shares during the last quarter. Almitas Capital LLC grew its stake in shares of ALX Oncology by 10.6% in the first quarter. Almitas Capital LLC now owns 1,353,141 shares of the company’s stock worth $843,000 after acquiring an additional 130,196 shares during the last quarter. Finally, Nuveen LLC purchased a new position in ALX Oncology in the first quarter worth about $103,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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.