HC Wainwright Reaffirms “Buy” Rating for ALX Oncology (NASDAQ:ALXO)

ALX Oncology (NASDAQ:ALXO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $20.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 49.48% from the stock’s current price.

Separately, Stifel Nicolaus reissued a “hold” rating and set a $14.00 price objective (up from $10.00) on shares of ALX Oncology in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ALX Oncology has an average rating of “Moderate Buy” and a consensus target price of $18.83.

ALX Oncology Price Performance

ALX Oncology stock opened at $13.38 on Wednesday. The company’s fifty day moving average price is $13.61 and its 200 day moving average price is $11.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.24 and a current ratio of 5.24. The stock has a market capitalization of $671.01 million, a P/E ratio of -3.57 and a beta of 1.58. ALX Oncology has a 1 year low of $3.94 and a 1 year high of $17.42.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings results 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 research analysts anticipate that ALX Oncology will post -3.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jason Lettmann bought 4,400 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $11.31 per share, for a total transaction of $49,764.00. Following the completion of the purchase, the chief executive officer now owns 171,620 shares in the company, valued at $1,941,022.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ALX Oncology news, CEO Jason Lettmann acquired 4,400 shares of the stock in a transaction on 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 purchase, the chief executive officer now directly owns 171,620 shares in the company, valued at $1,941,022.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jaume Pons sold 20,000 shares of ALX Oncology stock in a transaction that occurred 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. 50.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ALX Oncology

A number of hedge funds have recently modified their holdings of ALXO. Vanguard Group Inc. boosted its stake in shares of ALX Oncology by 49.0% during the 4th quarter. Vanguard Group Inc. now owns 1,502,409 shares of the company’s stock worth $22,371,000 after acquiring an additional 494,173 shares in the last quarter. Wellington Management Group LLP acquired a new stake in ALX Oncology during the 4th quarter valued at $1,201,000. American International Group Inc. increased its holdings in ALX Oncology by 24.1% during the 4th quarter. American International Group Inc. now owns 13,398 shares of the company’s stock valued at $199,000 after purchasing an additional 2,600 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in ALX Oncology in the 4th quarter valued at $8,090,000. Finally, Legal & General Group Plc boosted its position in shares of ALX Oncology by 42.6% in the 4th quarter. Legal & General Group Plc now owns 2,289 shares of the company’s stock worth $34,000 after purchasing an additional 684 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.