ALX Oncology (NASDAQ:ALXO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of ALX Oncology (NASDAQ:ALXO) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other analysts have also recently weighed in on ALXO. Piper Sandler upped their target price on shares of ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. UBS Group started coverage on shares of ALX Oncology in a research note on Friday, March 6th. They set a “buy” rating and a $6.00 price objective on the stock. Wells Fargo & Company started coverage on shares of ALX Oncology in a research note on Thursday, March 19th. They set an “overweight” rating and a $5.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of ALX Oncology in a research note on Tuesday, March 10th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.60.

ALX Oncology Stock Performance

NASDAQ ALXO opened at $2.08 on Friday. The stock has a market cap of $279.88 million, a P/E ratio of -1.40 and a beta of 0.41. The company’s 50-day simple moving average is $1.94 and its 200 day simple moving average is $1.70. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.66. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.17.

ALX Oncology (NASDAQ:ALXO) last posted its earnings results on Friday, May 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). As a group, research analysts forecast that ALX Oncology will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ALX Oncology news, CEO Jason Lettmann sold 12,311 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the sale, the chief executive officer directly owned 293,609 shares of the company’s stock, valued at approximately $637,131.53. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Large investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology during the third quarter worth approximately $66,000. Invesco Ltd. acquired a new position in shares of ALX Oncology during the first quarter worth approximately $46,000. Seven Fleet Capital Management LP acquired a new position in shares of ALX Oncology during the fourth quarter worth approximately $133,000. AQR Capital Management LLC lifted its position in shares of ALX Oncology by 183.6% during the first 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 in the last quarter. Finally, State Street Corp lifted its position in shares of ALX Oncology by 11.0% during the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock worth $140,000 after purchasing an additional 12,300 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.