ALX Oncology Holdings (ALXO) Company Overview

Here is how ALX Oncology Holdings Inc. (ALXO) and Ginkgo Bioworks Holdings, Inc. (DNA) have performed compared to their sector so far this year.

ALX Oncology Holdings (ALXO) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Analysts' price targets for ALX Oncology Holdings (ALXO) suggest a potential 36.6% increase in the stock. Although this metric is not always reliable, the consensus among analysts in increasing earnings estimates does indicate a positive outlook for the stock.

ALX Oncology (ALXO) reports encouraging findings from a phase 1/2 trial of a potential combination therapy for the treatment of refractory or relapsed B-cell non-Hodgkin lymphoma, including both indolent and aggressive forms.

As we head into 2024, it's common for investors to look back on 2023. Much of this year had investors in a defensive posture.

ALX Oncology reported positive interim results from its phase 2 study using its anti-CD47 drug for HER2-positive gastric/gastroesophageal junction cancer. Final results from the ASPEN-06 study are expected to be released in Q2 2024, potentially leading to further gains for investors. ALXO also announced a cash raise of $55 million, reducing the need for a future cash raise and lowering the risk of dilution.

Interim data from a mid-stage study shows that a combination regimen of ALX Oncology's (ALXO) lead candidate achieved 52% ORR in certain gastric cancer patients.

ALX Oncology Holdings Inc saw its stock value double in pre-market trading on the heels of promising interim data from a phase II study assessing the potential of its lead asset in cancer of the stomach and esophagus. The ASPEN-06 clinical evaluated the effectiveness of evorpacept in treating patients with HER2-positive gastric and gastroesophageal junction (GEJ) cancer.