ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ALX Oncology Holdings Inc. (NASDAQ:ALXO – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $4.60.

Separately, Weiss Ratings upgraded ALX Oncology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 17th.

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Hedge Funds Weigh In On ALX Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in shares of ALX Oncology in the second quarter valued at about $97,000. AXQ Capital LP purchased a new stake in ALX Oncology during the second quarter worth about $84,000. Nantahala Capital Management LLC acquired a new position in ALX Oncology during the second quarter worth about $1,552,500. Beacon Pointe Advisors LLC acquired a new position in ALX Oncology during the second quarter worth about $26,000. Finally, venBio Partners LLC purchased a new position in ALX Oncology in the second quarter valued at about $26,671,201. 97.97% of the stock is owned by institutional investors and hedge funds.

ALX Oncology Stock Performance

NASDAQ ALXO opened at $1.18 on Friday. The company has a current ratio of 9.71, a quick ratio of 9.71 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $1.79 and its two-hundred day moving average is $1.84. ALX Oncology has a 12-month low of $1.05 and a 12-month high of $2.66. The stock has a market capitalization of $163.17 million, a price-to-earnings ratio of -1.04 and a beta of 0.47.

ALX Oncology (NASDAQ:ALXO – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. Research analysts expect that ALX Oncology will post -0.59 EPS for the current year.

About ALX Oncology

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ALX Oncology Holdings Inc is a clinical-stage biopharmaceutical company focused on developing therapies that activate the immune system to fight cancer. The company’s research is centered on the CD47-SIRPα pathway, an innate immune checkpoint that cancer cells can use to avoid detection and destruction by immune cells.

Its lead investigational product is evorpacept, also known as ALX148, a protein therapeutic designed to block CD47 while limiting binding to red blood cells. Evorpacept is being evaluated in combination with other cancer treatments across several potential indications, including hematologic malignancies and solid tumors.

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