ALX Oncology (NASDAQ:ALXO) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

ALX Oncology (NASDAQ:ALXO) posted its earnings results on Friday. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04), Zacks reports.

ALX Oncology Stock Up 16.9%

NASDAQ ALXO traded up $0.20 on Friday, hitting $1.38. 755,675 shares of the stock traded hands, compared to its average volume of 799,145. The stock has a 50-day moving average of $1.49 and a 200 day moving average of $0.89. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.27. The company has a market capitalization of $73.90 million, a P/E ratio of -0.63 and a beta of 1.23. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 0.11.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.30.

Insider Activity at ALX Oncology

In other news, CEO Jason Lettmann purchased 71,163 shares of the stock in a transaction dated Wednesday, September 17th. The stock was acquired at an average cost of $1.08 per share, for a total transaction of $76,856.04. Following the acquisition, the chief executive officer owned 305,121 shares of the company’s stock, valued at $329,530.68. The trade was a 30.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

A number of hedge funds have recently added to or reduced their stakes in ALXO. Invesco Ltd. bought a new stake in ALX Oncology during the first quarter valued at $46,000. AQR Capital Management LLC lifted its position in shares of ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after buying an additional 77,065 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of ALX Oncology by 16.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after buying an additional 186,883 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of ALX Oncology during the 2nd quarter valued at about $84,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

About ALX Oncology

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.