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

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.14.

A number of research firms have weighed in on ALXO. Jefferies Financial Group upgraded ALX Oncology from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.00 to $3.00 in a report on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of ALX Oncology in a research note on Friday, March 7th. UBS Group lowered their price objective on ALX Oncology from $4.00 to $2.20 and set a “buy” rating for the company in a research report on Monday, January 27th. Piper Sandler upped their target price on shares of ALX Oncology from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research report on Friday, January 24th.

ALX Oncology Price Performance

Shares of NASDAQ ALXO opened at $0.61 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ALX Oncology has a 1 year low of $0.59 and a 1 year high of $17.83. The company’s 50-day moving average is $1.06 and its 200 day moving average is $1.43. The stock has a market capitalization of $32.67 million, a P/E ratio of -0.21 and a beta of 1.01.

Hedge Funds Weigh In On ALX Oncology

Hedge funds have recently bought and sold shares of the company. Almitas Capital LLC purchased a new stake in ALX Oncology during the 4th quarter valued at $2,042,000. Bank of America Corp DE lifted its holdings in shares of ALX Oncology by 492.9% during the fourth quarter. Bank of America Corp DE now owns 1,035,326 shares of the company’s stock valued at $1,729,000 after purchasing an additional 860,703 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of ALX Oncology during the fourth quarter valued at $1,380,000. Two Sigma Advisers LP increased its holdings in ALX Oncology by 64.6% in the 4th quarter. Two Sigma Advisers LP now owns 823,900 shares of the company’s stock worth $1,376,000 after buying an additional 323,400 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in ALX Oncology in the 3rd quarter worth about $578,000. Institutional investors own 97.97% of the company’s stock.

About ALX Oncology

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.