Orbimed Advisors LLC Buys New Shares in ALX Oncology Holdings Inc. $ALXO

Orbimed Advisors LLC purchased a new stake in shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 2,866,256 shares of the company’s stock, valued at approximately $5,747,000.

A number of other hedge funds have also modified their holdings of ALXO. Ameriprise Financial Inc. bought a new position in ALX Oncology in the 3rd quarter worth $1,195,000. Renaissance Technologies LLC increased its stake in ALX Oncology by 73.2% in the 1st quarter. Renaissance Technologies LLC now owns 732,599 shares of the company’s stock worth $1,469,000 after acquiring an additional 309,500 shares during the last quarter. Jane Street Group LLC bought a new stake in ALX Oncology in the second quarter worth $84,000. Acadian Asset Management LLC increased its holdings in shares of ALX Oncology by 16.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after buying an additional 186,883 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after purchasing an additional 128,737 shares during the period. 97.97% of the stock is currently owned by institutional investors.

ALX Oncology Stock Performance

NASDAQ ALXO opened at $2.03 on Monday. The stock has a market cap of $273.16 million, a PE ratio of -1.36 and a beta of 0.42. ALX Oncology Holdings Inc. has a 12 month low of $0.51 and a 12 month high of $2.66. The company’s 50-day moving average price is $1.88 and its 200-day moving average price is $1.88. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.02.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Equities research analysts forecast that ALX Oncology Holdings Inc. will post -0.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ALXO shares. Wall Street Zen upgraded shares of ALX Oncology from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.