ALX Oncology (NASDAQ:ALXO) Trading Up 6.5%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was up 6.5% during mid-day trading on Wednesday . The company traded as high as $15.67 and last traded at $15.43. Approximately 184,696 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 406,349 shares. The stock had previously closed at $14.49.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALXO shares. Stifel Nicolaus reiterated a “hold” rating and issued a $14.00 price target (up previously from $10.00) on shares of ALX Oncology in a report on Friday, March 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research note on Friday, April 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of ALX Oncology in a research note on Wednesday, April 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.83.

ALX Oncology Stock Up 10.1 %

The business’s 50 day moving average is $13.50 and its 200 day moving average is $11.84. The company has a market cap of $800.39 million, a P/E ratio of -3.86 and a beta of 1.58. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.05.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.09). As a group, equities analysts anticipate that ALX Oncology Holdings Inc. will post -3.33 earnings per share for the current fiscal year.

Insider Activity

In other ALX Oncology news, CEO Jason Lettmann acquired 4,400 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $11.31 per share, for a total transaction of $49,764.00. Following the acquisition, the chief executive officer now owns 171,620 shares in the company, valued at approximately $1,941,022.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ALX Oncology news, CEO Jason Lettmann acquired 4,400 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $11.31 per share, for a total transaction of $49,764.00. Following the acquisition, the chief executive officer now owns 171,620 shares in the company, valued at approximately $1,941,022.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jaume Pons sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $11.15, for a total value of $223,000.00. Following the completion of the transaction, the insider now owns 628,359 shares of the company’s stock, valued at approximately $7,006,202.85. The disclosure for this sale can be found here. Company insiders own 50.30% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALXO. Swiss National Bank grew its position in ALX Oncology by 8.5% during the 1st quarter. Swiss National Bank now owns 19,200 shares of the company’s stock worth $324,000 after purchasing an additional 1,500 shares during the period. JPMorgan Chase & Co. grew its position in shares of ALX Oncology by 21.6% during the 1st quarter. JPMorgan Chase & Co. now owns 19,237 shares of the company’s stock valued at $326,000 after acquiring an additional 3,417 shares during the period. MetLife Investment Management LLC grew its position in shares of ALX Oncology by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 10,745 shares of the company’s stock valued at $182,000 after acquiring an additional 3,965 shares during the period. BlackRock Inc. grew its position in shares of ALX Oncology by 1.1% during the 1st quarter. BlackRock Inc. now owns 1,355,478 shares of the company’s stock valued at $22,907,000 after acquiring an additional 14,907 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of ALX Oncology during the 1st quarter valued at about $914,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Company Profile

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.