ALX Oncology’s (ALXO) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of ALX Oncology (NASDAQ:ALXO) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $4.00 price target on the stock.

A number of other research firms have also issued reports on ALXO. UBS Group began coverage on shares of ALX Oncology in a research report on Friday, March 6th. They issued a “buy” rating and a $6.00 price target for the company. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research report on Monday, December 22nd. Piper Sandler increased their target price on shares of ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group assumed coverage on shares of ALX Oncology in a report on Thursday, November 13th. They set a “buy” rating and a $4.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, ALX Oncology has an average rating of “Moderate Buy” and an average price target of $4.50.

ALX Oncology Stock Performance

Shares of ALXO stock opened at $2.02 on Tuesday. The company has a market capitalization of $109.52 million, a price-to-earnings ratio of -1.06 and a beta of 0.47. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.66. The company has a current ratio of 2.07, a quick ratio of 2.40 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $1.85 and its 200-day simple moving average is $1.58.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.42) earnings per share (EPS) for the quarter. On average, sell-side analysts predict that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Insider Activity at ALX Oncology

In other news, Director Corey S. Goodman purchased 3,184,713 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the purchase, the director owned 8,453,038 shares in the company, valued at $13,271,269.66. This represents a 60.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALXO. Bridgeway Capital Management LLC acquired a new stake in ALX Oncology in the third quarter valued at approximately $66,000. Invesco Ltd. acquired a new position in shares of ALX Oncology during the 1st quarter worth $46,000. Seven Fleet Capital Management LP bought a new position in shares of ALX Oncology during the 4th quarter valued at $133,000. AQR Capital Management LLC raised its holdings in shares of ALX Oncology by 183.6% during the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after purchasing an additional 77,065 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of ALX Oncology by 11.0% in the 4th quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after purchasing an additional 12,300 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

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.