ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $3.50.

ALXO has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Jefferies Financial Group began coverage on ALX Oncology in a report on Thursday, November 13th. They issued a “buy” rating and a $4.00 price target for the company. Finally, Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd.

ALX Oncology Trading Up 10.8%

Shares of ALXO opened at $1.74 on Tuesday. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.27. The stock has a market cap of $94.34 million, a PE ratio of -0.86 and a beta of 0.51. The firm’s fifty day moving average is $1.36 and its two-hundred day moving average is $1.27. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.13.

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

Hedge Funds Weigh In On ALX Oncology

A number of institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. acquired a new position in ALX Oncology in the 3rd quarter valued at about $1,195,000. Two Sigma Investments LP raised its position in shares of ALX Oncology by 26.9% during the 3rd quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after buying an additional 128,737 shares during the period. Jane Street Group LLC purchased a new stake in shares of ALX Oncology during the 2nd quarter valued at approximately $84,000. Acadian Asset Management LLC lifted its holdings in ALX Oncology by 16.8% in the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after acquiring an additional 186,883 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in ALX Oncology by 183.6% in the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after acquiring an additional 77,065 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.