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

ALX Oncology (NASDAQ:ALXO) issued its earnings results on Thursday. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01, FiscalAI reports.

ALX Oncology Stock Performance

NASDAQ ALXO traded down $0.01 during trading hours on Friday, hitting $2.10. The company had a trading volume of 8,493,079 shares, compared to its average volume of 1,052,579. ALX Oncology has a fifty-two week low of $0.60 and a fifty-two week high of $2.66. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $1.88 and a 200-day simple moving average of $1.93. The firm has a market cap of $282.58 million, a P/E ratio of -1.41 and a beta of 0.42.

Hedge Funds Weigh In On ALX Oncology

Several institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. bought a new position in shares of ALX Oncology in the third quarter valued at $1,195,000. Renaissance Technologies LLC boosted its stake in shares of 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 acquiring an additional 258,600 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of ALX Oncology in the 2nd quarter worth $84,000. Acadian Asset Management LLC raised its position in shares of 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, Two Sigma Investments LP raised its position in shares of 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. Institutional investors own 97.97% of the company’s stock.

Wall Street Analyst Weigh In

ALXO has been the subject of several recent research reports. 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 raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.60.

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.