ALX Oncology (NASDAQ:ALXO) CEO Sells $26,714.87 in 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 shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the transaction, the chief executive officer owned 293,609 shares in the company, valued at approximately $637,131.53. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ALX Oncology Price Performance

ALXO stock opened at $2.04 on Thursday. The firm has a 50 day moving average of $2.00 and a 200 day moving average of $1.64. The stock has a market capitalization of $268.48 million, a PE ratio of -1.07 and a beta of 0.47. 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 52 week low of $0.40 and a 52 week high of $2.66.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALXO. Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Piper Sandler increased their price objective on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of ALX Oncology in a research note on Tuesday, March 10th. Finally, UBS Group initiated coverage on ALX Oncology in a report on Friday, March 6th. They set a “buy” rating and a $6.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ALX Oncology has an average rating of “Moderate Buy” and a consensus target price of $4.60.

Institutional Investors Weigh In On ALX Oncology

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in ALX Oncology by 11.0% during the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after acquiring an additional 12,300 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in ALX Oncology in the 3rd quarter worth approximately $66,000. Invesco Ltd. purchased a new stake in ALX Oncology in the 1st quarter worth approximately $46,000. AQR Capital Management LLC grew its stake in shares of ALX Oncology by 183.6% during the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after purchasing an additional 77,065 shares during the period. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of ALX Oncology during the 4th quarter worth approximately $133,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

About ALX Oncology

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.