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

08 May 2026, 17:44 by Amy Steele · The Cerbat Gem

ALX Oncology (NASDAQ:ALXO – Get Free Report) announced its quarterly earnings data on Friday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Trading Up 11.2%

Shares of ALX Oncology stock traded up $0.21 during trading hours on Friday, hitting $2.08. The company’s stock had a trading volume of 998,733 shares, compared to its average volume of 820,118. The company has a market capitalization of $279.88 million, a PE ratio of -1.09 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a 50 day moving average of $1.94 and a 200 day moving average of $1.70. ALX Oncology has a 12 month low of $0.40 and a 12 month high of $2.66.

Insider Activity

In related news, CEO Jason Lettmann sold 12,311 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $2.17, for a total value of $26,714.87. Following the completion of the transaction, the chief executive officer directly owned 293,609 shares in the company, valued at approximately $637,131.53. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALXO. Acadian Asset Management LLC raised its holdings in shares of ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after acquiring an additional 186,883 shares during the period. Ameriprise Financial Inc. acquired a new position in ALX Oncology in the 3rd quarter worth $1,195,000. Two Sigma Investments LP boosted its position in shares of ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock worth $1,110,000 after buying an additional 128,737 shares during the period. Renaissance Technologies LLC increased its stake in ALX Oncology by 157.2% in the 4th quarter. Renaissance Technologies LLC now owns 423,099 shares of the company’s stock valued at $478,000 after buying an additional 258,600 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in ALX Oncology during the 2nd quarter worth about $84,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ALXO shares. Wall Street Zen lowered ALX Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of ALX Oncology in a report on Tuesday, March 10th. Wells Fargo & Company initiated coverage on ALX Oncology in a research note on Thursday, March 19th. They issued an “overweight” rating and a $5.00 target price on the stock. UBS Group started coverage on ALX Oncology in a research report on Friday, March 6th. They set a “buy” rating and a $6.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ALX Oncology has a consensus rating of “Moderate Buy” and an average price target of $4.60.

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ALX Oncology Company Profile

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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.