ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $4.60 Average Price Target from Analysts

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.60.

Several research analysts recently weighed in on ALXO shares. Wells Fargo & Company started coverage on ALX Oncology in a research report on Thursday, March 19th. They issued an “overweight” rating and a $5.00 target price on the stock. UBS Group started coverage on ALX Oncology in a research report on Friday, March 6th. They issued a “buy” rating and a $6.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of ALX Oncology in a research report on Tuesday, March 10th. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, January 21st.

Insider Buying and Selling at ALX Oncology

In related news, CEO Jason Lettmann sold 12,311 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $2.17, for a total value of $26,714.87. Following the transaction, the chief executive officer directly owned 293,609 shares of the company’s stock, valued at approximately $637,131.53. This trade represents a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Corey S. Goodman bought 3,184,713 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost of $1.57 per share, for a total transaction of $4,999,999.41. Following the completion of the transaction, the director directly owned 8,453,038 shares in the company, valued at approximately $13,271,269.66. This trade represents a 60.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 21.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALXO. Invesco Ltd. purchased a new position in ALX Oncology in the first quarter valued at about $46,000. Bridgeway Capital Management LLC purchased a new position in ALX Oncology in the third quarter valued at about $66,000. AQR Capital Management LLC raised 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 valued at $74,000 after purchasing an additional 77,065 shares during the period. Jane Street Group LLC purchased a new position in ALX Oncology in the second quarter valued at about $84,000. Finally, Seven Fleet Capital Management LP purchased a new position in ALX Oncology in the fourth quarter valued at about $133,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

ALX Oncology Price Performance

ALXO stock opened at $1.68 on Friday. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.66. The stock’s fifty day simple moving average is $2.11 and its 200-day simple moving average is $1.71. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $221.10 million, a price-to-earnings ratio of -0.88 and a beta of 0.49.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.42) earnings per share (EPS) for the quarter. Equities research analysts expect that ALX Oncology will post -2.76 EPS for the current year.

About ALX Oncology

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.