Nantahala Capital Management LLC Invests $1.55 Million in ALX Oncology Holdings Inc. $ALXO

Nantahala Capital Management LLC purchased a new position in ALX Oncology Holdings Inc. (NASDAQ:ALXO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 750,000 shares of the company’s stock, valued at approximately $1,552,500. Nantahala Capital Management LLC owned approximately 0.54% of ALX Oncology at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALXO. Beacon Pointe Advisors LLC bought a new stake in ALX Oncology during the 2nd quarter valued at about $26,000. venBio Partners LLC bought a new position in shares of ALX Oncology in the second quarter worth approximately $26,671,201. Almitas Capital LLC purchased a new stake in shares of ALX Oncology during the second quarter valued at approximately $6,083,000. Bank of America Corp DE purchased a new stake in shares of ALX Oncology during the second quarter valued at approximately $157,000. Finally, 5AM Venture Management LLC bought a new stake in shares of ALX Oncology during the second quarter valued at approximately $6,328,663. 97.97% of the stock is owned by hedge funds and other institutional investors.

ALX Oncology Price Performance

ALXO opened at $2.00 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.71 and a current ratio of 9.71. The stock has a market capitalization of $276.56 million, a P/E ratio of -1.77 and a beta of 0.42. The company’s 50-day simple moving average is $2.01 and its two-hundred day simple moving average is $1.97. ALX Oncology Holdings Inc. has a 52-week low of $0.96 and a 52-week high of $2.66.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. As a group, analysts predict that ALX Oncology Holdings Inc. will post -0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALXO. Weiss Ratings upgraded shares of ALX Oncology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 19th. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4.60.

ALX Oncology 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.