ALX Oncology (NASDAQ:ALXO) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of ALX Oncology (NASDAQ:ALXO) in a research note published on Thursday, MarketBeat.com reports. The firm issued an overweight rating and a $5.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, January 21st. UBS Group began coverage on shares of ALX Oncology in a research report on Friday, March 6th. They set a “buy” rating and a $6.00 price target on the stock. 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. Finally, Piper Sandler lifted their price target on ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ALX Oncology currently has an average rating of “Moderate Buy” and an average price target of $4.60.

ALX Oncology Price Performance

NASDAQ:ALXO opened at $2.18 on Thursday. ALX Oncology has a 52-week low of $0.40 and a 52-week high of $2.66. The company has a market cap of $118.20 million, a P/E ratio of -1.15 and a beta of 0.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.07 and a current ratio of 2.07. The stock’s 50-day simple moving average is $1.96 and its 200 day simple moving average is $1.62.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.42) EPS for the quarter. As a group, sell-side analysts forecast that ALX Oncology will post -2.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other ALX Oncology news, Director Corey S. Goodman acquired 3,184,713 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was acquired at an average price of $1.57 per share, for a total transaction of $4,999,999.41. Following the purchase, the director directly owned 8,453,038 shares of the company’s stock, valued at $13,271,269.66. This trade represents a 60.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. acquired a new stake in shares of ALX Oncology in the first quarter valued at approximately $46,000. Bridgeway Capital Management LLC acquired a new stake in ALX Oncology during the third quarter worth approximately $66,000. AQR Capital Management LLC grew its position in ALX Oncology by 183.6% during the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after buying an additional 77,065 shares in the last quarter. Jane Street Group LLC bought a new position in ALX Oncology during the 2nd quarter worth $84,000. Finally, Seven Fleet Capital Management LP acquired a new position in ALX Oncology in the 4th quarter valued at $133,000. 97.97% of the stock is owned by institutional investors.

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.