ALX Oncology Holdings Inc. (NASDAQ:ALXO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.60.

Separately, Weiss Ratings lowered shares of ALX Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. venBio Partners LLC acquired a new position in ALX Oncology during the 2nd quarter worth about $26,671,201. Redmile Group LLC lifted its holdings in ALX Oncology by 143.9% in the first quarter. Redmile Group LLC now owns 7,964,188 shares of the company’s stock valued at $15,968,000 after buying an additional 4,699,470 shares during the period. BlackRock Inc. acquired a new stake in ALX Oncology during the 2nd quarter worth $15,317,000. Vivo Capital LLC acquired a new stake in ALX Oncology during the 1st quarter worth $6,385,000. Finally, 5AM Venture Management LLC bought a new stake in shares of ALX Oncology during the 2nd quarter valued at $6,328,663. Institutional investors own 97.97% of the company’s stock.

ALX Oncology Trading Down 1.8%

Shares of NASDAQ:ALXO opened at $1.89 on Wednesday. The firm has a market capitalization of $261.35 million, a P/E ratio of -1.67 and a beta of 0.39. The firm has a fifty day moving average of $2.00 and a two-hundred day moving average of $1.93. ALX Oncology has a 12-month low of $1.03 and a 12-month high of $2.66. The company has a quick ratio of 9.71, a current ratio of 9.71 and a debt-to-equity ratio of 0.07.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. On average, equities analysts expect that ALX Oncology will post -0.6 EPS for the current fiscal year.

About ALX Oncology

ALX Oncology Holdings Inc is a clinical-stage biotechnology company focused on developing therapies that activate the immune system to fight cancer. The company’s approach targets the CD47-SIRPα pathway, an innate immune checkpoint that cancer cells can use to avoid being identified and destroyed by macrophages and other immune cells.

ALX Oncology’s lead product candidate is evorpacept, formerly known as ALX148. Evorpacept is an investigational fusion protein designed to block the CD47 “don’t eat me” signal while limiting the binding of normal blood cells.