ALX Oncology (NASDAQ:ALXO) Releases Earnings Results, Beats Expectations By $0.20 EPS

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

ALX Oncology Stock Performance

Shares of NASDAQ ALXO opened at $1.45 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.39 and a current ratio of 4.39. ALX Oncology has a 1 year low of $1.34 and a 1 year high of $17.83. The firm’s 50 day moving average price is $1.76 and its 200 day moving average price is $6.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALXO. CANADA LIFE ASSURANCE Co acquired a new stake in shares of ALX Oncology during the first quarter worth $27,000. EntryPoint Capital LLC acquired a new stake in ALX Oncology in the 1st quarter worth about $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after buying an additional 5,200 shares during the period. Rhumbline Advisers increased its stake in shares of ALX Oncology by 10.8% during the 2nd quarter. Rhumbline Advisers now owns 55,220 shares of the company’s stock valued at $333,000 after acquiring an additional 5,360 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of ALX Oncology by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock worth $109,000 after acquiring an additional 6,080 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ALX Oncology Company Profile

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.