ALX Oncology (NASDAQ:ALXO) Trading Down 3.6%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) fell 3.6% during trading on Tuesday . The company traded as low as $11.29 and last traded at $11.30. 62,676 shares were traded during trading, a decline of 83% from the average session volume of 360,338 shares. The stock had previously closed at $11.72.

Wall Street Analysts Forecast Growth

ALXO has been the subject of several recent research reports. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 price objective (up previously from $10.00) on shares of ALX Oncology in a report on Friday, March 8th. Jefferies Financial Group raised shares of ALX Oncology from a “hold” rating to a “buy” rating and boosted their price target for the company from $8.00 to $18.00 in a research report on Friday, December 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, ALX Oncology currently has a consensus rating of “Moderate Buy” and an average price target of $18.42.

ALX Oncology Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 5.24 and a quick ratio of 5.24. The stock has a 50-day moving average price of $14.15 and a two-hundred day moving average price of $11.10.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings data 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). Research analysts forecast that ALX Oncology Holdings Inc. will post -3.33 earnings per share for the current year.

Insider Transactions at ALX Oncology

In other news, CEO Jason Lettmann bought 4,400 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased 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 approximately $1,941,022.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Jason Lettmann purchased 4,400 shares of ALX Oncology stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $11.31 per share, for a total transaction of $49,764.00. Following the completion of the purchase, the chief executive officer now directly owns 171,620 shares of the company’s stock, valued at approximately $1,941,022.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Shelly Pinto sold 2,717 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $13.60, for a total transaction of $36,951.20. Following the transaction, the chief accounting officer now directly owns 78,591 shares of the company’s stock, valued at $1,068,837.60. The disclosure for this sale can be found here. Insiders own 50.30% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of ALX Oncology during the 4th quarter valued at approximately $28,000. Legal & General Group Plc raised its position in shares of ALX Oncology by 42.6% during the 4th quarter. Legal & General Group Plc now owns 2,289 shares of the company’s stock valued at $34,000 after purchasing an additional 684 shares during the period. Royal Bank of Canada lifted its stake in shares of ALX Oncology by 226.6% during the 2nd quarter. Royal Bank of Canada now owns 4,001 shares of the company’s stock valued at $30,000 after buying an additional 2,776 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of ALX Oncology by 445.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,762 shares of the company’s stock valued at $86,000 after acquiring an additional 4,706 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of ALX Oncology by 338.3% in the first quarter. Quantbot Technologies LP now owns 7,100 shares of the company’s stock worth $119,000 after acquiring an additional 5,480 shares during the period. 97.97% of the stock is currently 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.