ALX Oncology (NASDAQ:ALXO) Posts Earnings Results, Beats Estimates By $0.01 EPS

ALX Oncology (NASDAQ:ALXO) announced its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01, FiscalAI reports.

ALX Oncology Stock Performance

NASDAQ ALXO traded down $0.01 on Friday, hitting $2.10. 8,493,079 shares of the stock traded hands, compared to its average volume of 1,052,579. The business’s fifty day moving average is $1.88 and its two-hundred day moving average is $1.93. ALX Oncology has a 12 month low of $0.60 and a 12 month high of $2.66. The firm has a market capitalization of $282.58 million, a price-to-earnings ratio of -1.41 and a beta of 0.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.21 and a current ratio of 7.21.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALXO. Weiss Ratings lowered shares of ALX Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.60.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in ALX Oncology by 157.2% in the 4th quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after acquiring an additional 258,600 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in ALX Oncology in the 3rd quarter valued at about $1,195,000. Two Sigma Investments LP boosted its position in ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock worth $1,110,000 after purchasing an additional 128,737 shares during the period. Acadian Asset Management LLC boosted its position in ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after purchasing an additional 186,883 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in shares of ALX Oncology by 111.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 76,072 shares of the company’s stock worth $86,000 after purchasing an additional 40,072 shares in the last quarter. Hedge funds and other institutional investors 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.