ALX Oncology (NASDAQ:ALXO) Trading 3.8% Higher – Still a Buy?

ALX Oncology Holdings Inc. (NASDAQ:ALXO)’s stock price was up 3.8% during mid-day trading on Thursday . The company traded as high as $1.3950 and last traded at $1.37. Approximately 147,024 shares changed hands during trading, a decline of 55% from the average daily volume of 323,693 shares. The stock had previously closed at $1.32.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group assumed coverage on ALX Oncology in a research report on Thursday, November 13th. They set a “buy” rating and a $4.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ALX Oncology has an average rating of “Moderate Buy” and an average price target of $3.50.

ALX Oncology Trading Up 3.8%

The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $74.28 million, a PE ratio of -0.67 and a beta of 0.53. The stock has a 50 day moving average price of $1.57 and a 200-day moving average price of $1.01.

ALX Oncology (NASDAQ:ALXO) last posted its earnings results on Friday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). Sell-side analysts expect that ALX Oncology Holdings Inc. will post -2.76 earnings per share for the current year.

Insider Buying and Selling at ALX Oncology

In other ALX Oncology news, CEO Jason Lettmann acquired 71,163 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were bought at an average price of $1.08 per share, with a total value 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 represents a 30.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALXO. Invesco Ltd. purchased a new position in shares of ALX Oncology during the 1st quarter worth $46,000. Bridgeway Capital Management LLC purchased a new stake in shares of ALX Oncology in the 3rd quarter worth $66,000. AQR Capital Management LLC raised its holdings in ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after purchasing an additional 77,065 shares during the period. Jane Street Group LLC purchased a new position in ALX Oncology during the second quarter valued at $84,000. Finally, Nuveen LLC purchased a new position in ALX Oncology during the first quarter valued at $103,000. 97.97% of the stock is currently owned by institutional investors.

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.