ALX Oncology’s (ALXO) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d-) rating on shares of ALX Oncology (NASDAQ:ALXO) in a research note released on Wednesday,Weiss Ratings reports.

ALX Oncology Stock Down 15.5%

ALXO opened at $1.64 on Wednesday. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.27. The stock’s fifty day simple moving average is $1.21 and its 200 day simple moving average is $0.75. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 0.11. The stock has a market cap of $87.82 million, a PE ratio of -0.75 and a beta of 1.21.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.03). As a group, research analysts expect that ALX Oncology will post -2.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jason Lettmann acquired 71,163 shares of the stock in a transaction on Wednesday, September 17th. The shares were purchased at an average price of $1.08 per share, for a total transaction of $76,856.04. Following the transaction, the chief executive officer directly owned 305,121 shares of the company’s stock, valued at approximately $329,530.68. This represents a 30.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. bought a new position in ALX Oncology during the 1st quarter worth $46,000. AQR Capital Management LLC grew its holdings in shares of ALX Oncology by 183.6% during the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after purchasing an additional 77,065 shares in the last quarter. Almitas Capital LLC grew its holdings in shares of ALX Oncology by 10.6% during the 1st quarter. Almitas Capital LLC now owns 1,353,141 shares of the company’s stock worth $843,000 after purchasing an additional 130,196 shares in the last quarter. Nuveen LLC acquired a new stake in shares of ALX Oncology during the 1st quarter worth $103,000. Finally, Acadian Asset Management LLC grew its holdings in shares of ALX Oncology by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after purchasing an additional 186,883 shares in the last quarter. Institutional investors own 97.97% of the company’s stock.

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.