ALX Oncology (NASDAQ:ALXO) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

ALX Oncology (NASDAQ:ALXO) announced its quarterly earnings results on Friday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02), FiscalAI reports.

Here are the key takeaways from ALX Oncology’s conference call:

• The ESMO Breast dataset showed that the evorpacept + zanidatamab combination produced strong activity in heavily pretreated HER2+ patients, with centrally confirmed HER2+ / CD47-high tumors (n=5) achieving a 100% confirmed response, a median duration of response of ~20 months, and a CD47?20% subgroup median PFS of ~22 months.
• These breast results are consistent with the randomized ASPEN-06 gastric trial, where the CD47-high subset showed higher ORRs (up to ~65%), long DOR (~25.5 months) and a PFS benefit (median ~18.4 months; HR ~0.39), supporting CD47 as a predictive biomarker across indications.
• The company reports strong execution and runway — ASPEN-09 (single-arm breast Phase II) is enrolling well with an interim readout of ~80 patients planned mid-2027 to validate CD47 cutoffs, supported by a February financing and the hire of experienced CDO/COO Jeff Knight.
• Second program ALX2004, a differentiated EGFR-targeted ADC, is advancing in Phase I dose escalation (doses up to 4 mg/kg reported) and remains on track for an initial safety readout in H2 2026, representing a separate near-term catalyst.
• Important caveats remain — the CD47 biomarker analyses are small and exploratory (very small n in key subgroups), the optimal IHC cutoff is unresolved, and the company notes that a registrational Phase III (rather than accelerated approval) is the base-case regulatory path, adding development and regulatory risk.

ALX Oncology Stock Performance

Shares of ALXO opened at $2.08 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $279.88 million, a P/E ratio of -1.40 and a beta of 0.41. The firm’s fifty day simple moving average is $1.94 and its two-hundred day simple moving average is $1.70. ALX Oncology has a 12 month low of $0.40 and a 12 month high of $2.66.

Insider Buying and Selling

In other ALX Oncology news, CEO Jason Lettmann sold 12,311 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the sale, the chief executive officer owned 293,609 shares of the company’s stock, valued at approximately $637,131.53. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.00% of the company’s stock.

Institutional Trading of ALX Oncology

Institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC bought a new stake in ALX Oncology during the third quarter valued at $66,000. Invesco Ltd. bought a new stake in ALX Oncology during the first quarter valued at $46,000. AQR Capital Management LLC boosted its position in ALX Oncology by 183.6% during the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after acquiring an additional 77,065 shares during the last quarter. State Street Corp boosted its position in ALX Oncology by 11.0% during the fourth quarter. State Street Corp now owns 124,228 shares of the company’s stock valued at $140,000 after acquiring an additional 12,300 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in ALX Oncology during the second quarter valued at $84,000. Institutional investors own 97.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ALXO has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ALX Oncology in a report on Wednesday, January 21st. UBS Group started coverage on shares of ALX Oncology in a research note on Friday, March 6th. They issued a “buy” rating and a $6.00 price objective on the stock. Wall Street Zen raised shares of ALX Oncology from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler boosted their price objective on shares of ALX Oncology from $3.00 to $4.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of ALX Oncology in a research note on Tuesday, March 10th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.60.

ALX Oncology Company Profile

ALX Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Redwood City, California, focused on developing next-generation immuno-oncology therapies. The company’s mission is to harness and amplify both innate and adaptive immune responses to improve outcomes for patients with a range of solid tumors and hematologic malignancies.

The lead candidate in ALX Oncology’s pipeline is evorpacept (ALX148), a high-affinity CD47-blocking Fc-silenced fusion protein designed to enhance macrophage-mediated phagocytosis of cancer cells when combined with standard therapeutic antibodies or immune checkpoint inhibitors.