Redmile Group LLC Reduces Holdings in ALX Oncology Holdings Inc. (NASDAQ:ALXO)

Redmile Group LLC lowered its position in ALX Oncology Holdings Inc. (NASDAQ:ALXO) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 3,689,611 shares of the company’s stock after selling 146,965 shares during the period. Redmile Group LLC owned 0.07% of ALX Oncology worth $6,162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALXO. JSF Financial LLC bought a new position in ALX Oncology during the fourth quarter worth about $29,000. Sei Investments Co. purchased a new stake in shares of ALX Oncology during the 4th quarter valued at approximately $102,000. Barclays PLC boosted its holdings in ALX Oncology by 243.6% in the 3rd quarter. Barclays PLC now owns 59,502 shares of the company’s stock worth $107,000 after buying an additional 42,185 shares during the period. Bridgeway Capital Management LLC bought a new stake in ALX Oncology during the 4th quarter valued at $125,000. Finally, Bank of New York Mellon Corp lifted its position in shares of ALX Oncology by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 90,003 shares of the company’s stock worth $150,000 after acquiring an additional 9,623 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.

ALX Oncology Stock Down 4.5%

Shares of NASDAQ ALXO opened at $0.46 on Thursday. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $0.60 and a 200-day moving average of $1.16. The firm has a market capitalization of $24.53 million, a price-to-earnings ratio of -0.15 and a beta of 1.21. ALX Oncology Holdings Inc. has a 12 month low of $0.41 and a 12 month high of $15.87.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.11). Sell-side analysts expect that ALX Oncology Holdings Inc. will post -2.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALXO. UBS Group reduced their price target on ALX Oncology from $4.00 to $2.20 and set a “buy” rating for the company in a research report on Monday, January 27th. Piper Sandler lifted their target price on ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. HC Wainwright lowered their price target on shares of ALX Oncology from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research report on Friday, January 24th. Finally, Stifel Nicolaus decreased their target price on shares of ALX Oncology from $3.00 to $1.50 and set a “hold” rating on the stock in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3.54.

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.