ALX Oncology Holdings Inc. (NASDAQ:ALXO) Rated as a Moderate Buy by Analysts

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has recently received an average rating of "Moderate Buy" from seven brokerage firms that monitor the stock, according to Marketbeat. Out of these analysts, two have suggested a hold rating, while five have provided a buy rating, indicating a generally positive outlook on the company's prospects.

The average price target for ALX Oncology, based on estimates from brokers over the last year, stands at $4.14. This figure represents what analysts believe the stock could be worth in the near future.

Multiple research firms have shared their viewpoints on ALX Oncology recently. Stifel Nicolaus, for example, lowered its price target for the stock from $3.00 to $1.50, maintaining a hold rating in their analysis dated March 7th. Concurrently, HC Wainwright confirmed a buy rating and set a price target of $5.00 for ALX Oncology’s shares on the same day. In a separate report on January 24th, Cantor Fitzgerald reaffirmed an "overweight" rating for the company. Additionally, UBS Group revised its price target down from $4.00 to $2.20 and supports a buy rating as of January 27th. Finally, on March 6th, Piper Sandler increased its price objective from $8.00 to $9.00 while also assigning an "overweight" rating.

Current Market Performance of ALX Oncology

On Wednesday, ALX Oncology shares opened at $0.61, reflecting a decline of 1.8%. The company maintains a 50-day simple moving average of $1.06 and a 200-day simple moving average of $1.43. ALX Oncology has a market capitalization of $32.67 million, with a negative price-to-earnings (PE) ratio of -0.21 and a beta of 1.01. Over the past year, the stock has reached a low of $0.59 and a high of $17.83. The company also demonstrates a strong liquidity position with a current ratio and quick ratio both at 4.82, and a debt-to-equity ratio of just 0.07.

Institutional Investor Activity

Recently, several institutional investors and hedge funds have altered their positions in ALX Oncology. For instance, JSF Financial LLC acquired a new stake in the company valued at $29,000 in the last quarter of the previous year. Barclays PLC significantly boosted its holdings by 243.6% in the third quarter, now owning 59,502 shares after an addition of 42,185 shares. Sei Investments Co. also purchased a new stake worth approximately $102,000 in the fourth quarter, with Bridgeway Capital Management LLC acquiring another new stake valued at about $125,000. Furthermore, Bank of New York Mellon Corp increased its stake by 12.0%, owning a total of 90,003 shares after an increase of 9,623 shares in the last quarter. Notably, institutional investors now own 97.97% of ALX Oncology's stock.

About ALX Oncology

ALX Oncology Holdings Inc. is a clinical-stage company focused on immuno-oncology. The firm mainly develops treatments aimed at improving outcomes for cancer patients in the United States. The lead candidate of ALX Oncology, Evorpacept, is a novel therapeutic designed to block CD47 and is currently being tested in combination with other cancer therapies. This includes clinical studies such as ASPEN-06, which targets gastric/GEJ cancer, ASPEN-07 for urothelial cancer, and ASPEN-03 and ASPEN-04 for head and neck squamous cell carcinoma, all in different phases of clinical research.

ALX, Oncology, stocks