ALX Oncology (NASDAQ:ALXO) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of ALX Oncology (NASDAQ:ALXO) in a report published on Friday morning, Benzinga reports.

Several other equities analysts have also recently issued reports on ALXO. Stifel Nicolaus reaffirmed a hold rating and set a $14.00 price objective (up from $10.00) on shares of ALX Oncology in a report on Friday, March 8th. HC Wainwright reiterated a buy rating and issued a $20.00 price objective on shares of ALX Oncology in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $18.83.

ALX Oncology Stock Performance

NASDAQ:ALXO opened at $13.03 on Friday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.05. ALX Oncology has a fifty-two week low of $3.94 and a fifty-two week high of $17.42. The firm’s fifty day simple moving average is $13.57 and its 200-day simple moving average is $11.72. The stock has a market cap of $653.45 million, a PE ratio of -3.47 and a beta of 1.58.

ALX Oncology (NASDAQ:ALXO) last issued its 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). Analysts expect that ALX Oncology will post -3.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jaume Pons sold 20,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 628,359 shares in the company, valued at $7,006,202.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jason Lettmann bought 4,400 shares of the 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 purchase, the chief executive officer now owns 171,620 shares of the company’s stock, valued at $1,941,022.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jaume Pons sold 20,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were 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 $7,006,202.85. The disclosure for this sale can be found here. 50.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ALX Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in ALXO. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in ALX Oncology in the 4th quarter worth about $28,000. Royal Bank of Canada grew its holdings in ALX Oncology by 226.6% in the second quarter. Royal Bank of Canada now owns 4,001 shares of the company’s stock valued at $30,000 after purchasing an additional 2,776 shares during the period. Legal & General Group Plc increased its position in ALX Oncology by 42.6% during the fourth 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. UBS Group AG raised its stake in ALX Oncology by 38.7% during the first quarter. UBS Group AG now owns 10,043 shares of the company’s stock worth $45,000 after purchasing an additional 2,801 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of ALX Oncology in the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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.