ALX Oncology (NASDAQ:ALXO) Trading 6.5% Higher

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

Analysts Set New Price Targets

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

ALX Oncology Stock Performance

The stock has a market capitalization of $789.36 million, a PE ratio of -4.20 and a beta of 1.58. The company’s 50-day moving average price is $13.55 and its 200 day moving average price is $11.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.24 and a current ratio of 5.24.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.09). On average, equities research analysts expect that ALX Oncology Holdings Inc. will post -3.33 earnings per share for the current fiscal year.

Insider Activity at ALX Oncology

In other ALX Oncology news, CEO Jason Lettmann purchased 4,400 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $11.31 per share, with a total value of $49,764.00. Following the transaction, the chief executive officer now directly owns 171,620 shares in the company, valued at approximately $1,941,022.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ALX Oncology news, insider Jaume Pons sold 50,000 shares of ALX Oncology stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $14.20, for a total value of $710,000.00. Following the completion of the transaction, the insider now directly owns 604,205 shares of the company’s stock, valued at $8,579,711. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason Lettmann bought 4,400 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $11.31 per share, with a total value of $49,764.00. Following the completion of the acquisition, the chief executive officer now directly owns 171,620 shares of the company’s stock, valued at approximately $1,941,022.20. The disclosure for this purchase can be found here. 50.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALXO. Swiss National Bank raised its holdings in ALX Oncology by 8.5% in the first quarter. Swiss National Bank now owns 19,200 shares of the company’s stock worth $324,000 after buying an additional 1,500 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in ALX Oncology by 21.6% in the first quarter. JPMorgan Chase & Co. now owns 19,237 shares of the company’s stock worth $326,000 after buying an additional 3,417 shares during the last quarter. MetLife Investment Management LLC raised its holdings in ALX Oncology by 58.5% in the first quarter. MetLife Investment Management LLC now owns 10,745 shares of the company’s stock worth $182,000 after buying an additional 3,965 shares during the last quarter. BlackRock Inc. raised its holdings in ALX Oncology by 1.1% in the first quarter. BlackRock Inc. now owns 1,355,478 shares of the company’s stock worth $22,907,000 after buying an additional 14,907 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in ALX Oncology in the first quarter worth about $914,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.