Brokerages Set ALX Oncology Holdings Inc. (NASDAQ:ALXO) PT at $4.60

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $4.60.

ALXO has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on ALX Oncology in a research note on Thursday, March 19th. They issued an “overweight” rating and a $5.00 price target for the company. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group initiated coverage on ALX Oncology in a research note on Friday, March 6th. They issued a “buy” rating and a $6.00 price target for the company. Piper Sandler boosted their price target on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of ALX Oncology in a research note on Tuesday, March 10th.

Insider Activity

In related news, CEO Jason Lettmann sold 12,311 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $2.17, for a total value of $26,714.87. Following the completion of the sale, the chief executive officer directly owned 293,609 shares in the company, valued at approximately $637,131.53. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 21.00% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in 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 last quarter. Bridgeway Capital Management LLC bought a new stake in ALX Oncology during the third quarter worth $66,000. Bank of America Corp DE lifted its stake in ALX Oncology by 8.6% during the first quarter. Bank of America Corp DE now owns 577,783 shares of the company’s stock worth $1,158,000 after purchasing an additional 45,938 shares during the last quarter. Invesco Ltd. bought a new stake in ALX Oncology during the first quarter worth $46,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in ALX Oncology during the first quarter worth $150,000. 97.97% of the stock is currently owned by institutional investors.

ALX Oncology Trading Down 6.2%

Shares of ALXO stock opened at $1.67 on Monday. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.02. The stock has a market cap of $224.72 million, a P/E ratio of -1.12 and a beta of 0.44. The stock has a 50 day simple moving average of $1.87 and a 200 day simple moving average of $1.76. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.66.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). On average, research analysts predict that ALX Oncology will post -0.66 earnings per share for the current fiscal year.

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.