Analysts Give ALX Oncology Holdings Inc. a 'Moderate Buy' Rating

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has received an average recommendation of 01cModerate Buy01d from seven brokerages monitoring the stock, according to a report by Marketbeat. Among the analysts, two have issued a hold rating while five have provided a buy recommendation.

The average target price for ALX Oncology shares, based on the assessments from brokerages over the past year, is set at $4.14.

Recently, various research firms have shared their insights regarding ALX Oncology's stock performance. Stifel Nicolaus adjusted their target price from $3.00 down to $1.50 while maintaining a hold rating on March 7. HC Wainwright confirmed a buy rating with a target price of $5.00 for ALX Oncology shares on the same day. Furthermore, Cantor Fitzgerald reiterated an overweight rating for the stock on January 24.

UBS Group, on January 27, revised their price target from $4.00 to $2.20, also keeping a buy rating intact. On March 6, Piper Sandler increased their target price for ALX Oncology from $8.00 to $9.00, with an overweight rating.

Current Stock Performance of ALX Oncology

As of Wednesday, ALX Oncology shares opened at $0.61. The stock's 50-day simple moving average stands at $1.06, while the two-hundred day simple moving average is $1.43. ALX Oncology boasts a market capitalization of $32.67 million, a PE ratio of -0.21, and a beta of 1.01. In the past year, the stock has reached a low of $0.59 and a high of $17.83. Additionally, the company maintains a current ratio of 4.82, a quick ratio of 4.82, and a debt-to-equity ratio of 0.07.

Institutional Investors' Activities

Recent activities from institutional investors and hedge funds have indicated a shift in their holdings in ALX Oncology. JSF Financial LLC made a new investment in ALX Oncology worth $29,000 during the fourth quarter. Barclays PLC significantly increased its position by 243.6% in the third quarter, acquiring 59,502 shares valued at $107,000 after purchasing an additional 42,185 shares in the last quarter.

Sei Investments Co. also bought a new stake during the fourth quarter, valued around $102,000. In addition, Bridgeway Capital Management LLC purchased a fresh stake valued at about $125,000, and Bank of New York Mellon Corp raised its stake by 12% in the fourth quarter, owning 90,003 shares valued at $150,000 after purchasing an additional 9,623 shares. Institutional investors currently hold 97.97% of the company's stock.

About ALX Oncology

ALX Oncology Holdings Inc. is a clinical-stage immuno-oncology company focused on developing treatments for cancer patients in the United States. Its leading product candidate is Evorpacept, a CD47 blocking therapeutic biologic designed for use as a combination therapy alongside other anti-cancer agents. Evorpacept is currently undergoing Phase 2 clinical trials for Gastric/GEJ cancer, Phase 1 trials for urothelial cancer, and is included in Phase 2 studies for head and neck squamous cell carcinoma.

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