ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $2.50 Average PT from Brokerages

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.50.

A number of equities research analysts have weighed in on ALXO shares. Jefferies Financial Group began coverage on ALX Oncology in a research note on Thursday, November 13th. They issued a “buy” rating and a $4.00 price objective for the company. Piper Sandler lifted their target price on shares of ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Monday, December 22nd.

Insider Activity

In related news, Director Corey S. Goodman purchased 3,184,713 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were purchased at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the completion of the acquisition, the director directly owned 8,453,038 shares in the company, valued at $13,271,269.66. This represents a 60.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 21.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. acquired a new stake in ALX Oncology in the third quarter valued at about $1,195,000. Renaissance Technologies LLC increased its position in ALX Oncology by 157.2% during the 4th quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after purchasing an additional 258,600 shares during the period. Jane Street Group LLC purchased a new position in shares of ALX Oncology during the 2nd quarter worth approximately $84,000. Acadian Asset Management LLC lifted 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, Two Sigma Investments LP boosted its stake in shares of ALX Oncology by 26.9% in the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after buying an additional 128,737 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

ALX Oncology Stock Down 1.2%

ALXO opened at $2.42 on Friday. ALX Oncology has a one year low of $0.40 and a one year high of $2.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.40 and a current ratio of 2.40. The stock has a market capitalization of $131.21 million, a P/E ratio of -1.19 and a beta of 0.51. The business’s 50-day simple moving average is $1.63 and its 200-day simple moving average is $1.46.

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.