ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $3.50 Consensus PT from Brokerages

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $3.50.

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of ALX Oncology in a research note on Thursday, November 13th. They set a “buy” rating and a $4.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a report on Monday, December 22nd.

ALX Oncology Stock Performance

ALX Oncology stock opened at $1.15 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.40 and a quick ratio of 2.40. ALX Oncology has a 12 month low of $0.40 and a 12 month high of $2.27. The company has a fifty day moving average price of $1.40 and a two-hundred day moving average price of $1.15. The company has a market cap of $62.35 million, a PE ratio of -0.57 and a beta of 0.51.

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

Hedge Funds Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bridgeway Capital Management LLC bought a new position in shares of ALX Oncology during the third quarter worth about $66,000. Invesco Ltd. acquired a new position in ALX Oncology during the 1st quarter valued at about $46,000. AQR Capital Management LLC grew its position 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 last quarter. Nuveen LLC acquired a new stake in shares of ALX Oncology in the first quarter valued at approximately $103,000. Finally, Jane Street Group LLC acquired a new stake in shares of ALX Oncology in the second quarter valued at approximately $84,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

ALX Oncology Company Profile

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.