ALX Oncology (NASDAQ:ALXO) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

ALX Oncology (NASDAQ:ALXO) released its quarterly earnings data on Thursday. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.20, reports.

ALX Oncology Stock Down 4.0 %

ALXO opened at $1.45 on Friday. The business has a 50 day moving average price of $1.76 and a two-hundred day moving average price of $6.09. ALX Oncology has a 52 week low of $1.34 and a 52 week high of $17.83. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALXO. Lifesci Capital lowered shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of ALX Oncology in a research report on Tuesday, August 13th. UBS Group dropped their price target on ALX Oncology from $25.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research note on Monday, August 12th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $3.00 price objective (down from $5.00) on shares of ALX Oncology in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co acquired a new position in ALX Oncology in the 1st quarter valued at $27,000. EntryPoint Capital LLC acquired a new position in shares of ALX Oncology during the first quarter worth about $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ALX Oncology by 394.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock worth $39,000 after acquiring an additional 5,200 shares during the period. Hsbc Holdings PLC purchased a new position in ALX Oncology during the second quarter worth about $63,000. Finally, AQR Capital Management LLC lifted its position in ALX Oncology by 50.7% in the second quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock valued at $109,000 after purchasing an additional 6,080 shares during the period. Institutional investors and hedge funds 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.