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

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $4.60.

Several research analysts have recently commented on ALXO shares. UBS Group started coverage on ALX Oncology in a report on Friday, March 6th. They issued a “buy” rating and a $6.00 target price on the stock. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a research report on Friday, June 26th. Wells Fargo & Company began coverage on ALX Oncology in a research note on Thursday, March 19th. They issued an “overweight” rating and a $5.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of ALX Oncology in a research note on Tuesday, March 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC bought a new position in shares of ALX Oncology in the first quarter worth about $6,385,000. Bank of America Corp DE grew its stake in shares of ALX Oncology by 8.6% during the first quarter. Bank of America Corp DE now owns 577,783 shares of the company’s stock valued at $1,158,000 after purchasing an additional 45,938 shares during the last quarter. Redmile Group LLC grew its stake in shares of ALX Oncology by 143.9% during the first quarter. Redmile Group LLC now owns 7,964,188 shares of the company’s stock valued at $15,968,000 after purchasing an additional 4,699,470 shares during the last quarter. venBio Partners LLC increased its holdings in shares of ALX Oncology by 32.8% in the first quarter. venBio Partners LLC now owns 12,884,638 shares of the company’s stock valued at $25,834,000 after purchasing an additional 3,184,713 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in ALX Oncology in the 1st quarter worth approximately $5,747,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

ALX Oncology Trading Up 0.5%

Shares of ALXO stock opened at $2.07 on Friday. ALX Oncology has a 12-month low of $0.44 and a 12-month high of $2.66. The company has a market capitalization of $278.55 million, a P/E ratio of -1.39 and a beta of 0.42. The firm has a 50-day moving average price of $1.80 and a 200 day moving average price of $1.80. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.02.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Research analysts forecast that ALX Oncology will post -0.66 earnings per share for the current fiscal 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.