Jason Lettmann Sells 12,311 Shares of ALX Oncology (NASDAQ:ALXO) Stock

ALX Oncology Holdings Inc. (NASDAQ:ALXO) CEO Jason Lettmann sold 12,311 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $2.17, for a total transaction of $26,714.87. Following the sale, the chief executive officer directly owned 293,609 shares of the company’s stock, valued at $637,131.53. This represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ALX Oncology Trading Down 7.3%

Shares of ALX Oncology stock opened at $2.04 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.17. ALX Oncology Holdings Inc. has a 12-month low of $0.40 and a 12-month high of $2.66. The company has a market capitalization of $268.48 million, a price-to-earnings ratio of -1.07 and a beta of 0.47. The firm’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $1.64.

ALX Oncology (NASDAQ:ALXO) last issued its earnings results on Monday, March 9th. The company reported ($0.42) EPS for the quarter. On average, analysts forecast that ALX Oncology Holdings Inc. will post -2.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of ALX Oncology in a report on Tuesday, March 10th. UBS Group assumed coverage on ALX Oncology in a research report on Friday, March 6th. They set a “buy” rating and a $6.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Finally, Piper Sandler lifted their target price on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.60.

Institutional Investors Weigh In On ALX Oncology

Several hedge funds have recently added to or reduced their stakes in ALXO. Seven Fleet Capital Management LP bought a new stake in ALX Oncology during the 4th quarter worth approximately $133,000. Bridgeway Capital Management LLC lifted its holdings in shares of ALX Oncology by 111.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 76,072 shares of the company’s stock worth $86,000 after purchasing an additional 40,072 shares during the period. State Street Corp lifted its holdings in shares of ALX Oncology by 11.0% during the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock worth $140,000 after purchasing an additional 12,300 shares during the period. Renaissance Technologies LLC grew its stake in shares of ALX Oncology by 157.2% in the fourth quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock worth $478,000 after purchasing an additional 258,600 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of ALX Oncology in the third quarter worth $1,195,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

ALX Oncology Company 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.