ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives a ‘Moderate Buy’ Rating from Analysts

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have garnered an average rating of "Moderate Buy" from a group of seven brokerages covering the stock, according to reports from Marketbeat. Among these analysts, two have issued a hold rating while five have provided buy recommendations. The forecasted target price for the stock, as estimated by the analyst community over the past year, stands at an average of $4.14.

Recently, various research firms have expressed their views on the stock. Stifel Nicolaus made headlines when they revised their target price for ALX Oncology downward from $3.00 to $1.50, while maintaining a "hold" rating. Meanwhile, HC Wainwright confirmed a "buy" rating with a price target of $5.00. Additionally, Cantor Fitzgerald reaffirmed their "overweight" rating, offering support to the stock's potential growth. Earlier this year, UBS Group also adjusted their target, reducing it from $4.00 to $2.20 but kept a "buy" rating. On a brighter note, Piper Sandler increased their price target from $8.00 to $9.00 and maintained an "overweight" rating as well.

Latest Trends in ALX Oncology Stock

As for ALX Oncology’s current trading status, the stock opened at $0.61. Its 50-day simple moving average is $1.06, while the two-hundred-day moving average is $1.43. The company holds a market capitalization of approximately $32.67 million. Its price-to-earnings ratio stands at -0.21, and it has a beta of 1.01, which indicates a volatility level relative to the broader market. Over the past year, ALX Oncology's stock has seen a low of $0.59 and a high of $17.83. The company's financial health is also reflected in its current ratio of 4.82 and a quick ratio of 4.82, with a low debt-to-equity ratio of 0.07.

Institutional Investors Activity

Recent activities by institutional investors and hedge funds show an active interest in ALX Oncology. For example, JSF Financial LLC made a new investment in the company during the fourth quarter of the previous year, valuing their stake at $29,000. Barclays PLC significantly increased their holdings by 243.6% during the third quarter, now owning 59,502 shares worth around $107,000 after acquiring an additional 42,185 shares. Sei Investments Co. also invested newly in ALX Oncology with a stake worth approximately $102,000. Similarly, Bridgeway Capital Management LLC bought a new stake for about $125,000 in the same quarter. Notably, Bank of New York Mellon Corp raised its stake in the company by 12.0%, bringing their total to 90,003 shares, valued at $150,000. Currently, institutional investors collectively own 97.97% of ALX Oncology's stock.

Overview of ALX Oncology

ALX Oncology Holdings Inc. operates as a clinical-stage immuno-oncology company, concentrating on developing innovative therapies for cancer patients in the United States. The firm's primary product candidate is Evorpacept, which acts as a CD47-blocking therapeutic biologic. This treatment is being investigated in combination with other anti-cancer agents in various clinical studies, including ASPEN-06 for gastric/GEJ cancer, ASPEN-07 for urothelial cancer, and ASPEN-03 and ASPEN-04 for head and neck squamous cell carcinoma.

ALX, Oncology, Stock