Is alxo a good buy

ALX Oncology appears to be a promising investment candidate, and here's why:

1. Reasonable Valuation: The company's valuation has dropped below $500 million, which is a significant decrease from its previous market cap of over $1 billion. This drop in valuation could indicate a more reasonable buy-in point, especially considering the company's potential for growth.
2. Strong Buy Rating: The consensus rating for ALX Oncology is a "Strong Buy" with an average price target of $11.25. This suggests that analysts believe the stock has room to grow from its current price.

3. Positive Pipeline Updates: The company's focus on developing evorpacept, a molecule targeting the "don't eat me" molecule CD47, has shown promising activity signals in gastric cancer and urothelial carcinoma. Upcoming data updates and trials could further bolster the stock's potential.

4. Insider Confidence: The Chief Financial Officer of ALX Oncology, Peter Garcia, recently purchased 12,000 shares of the company stock, which can be seen as a sign of confidence in the company's future performance.

5. Technical Indicators: The stock's 5-day and 10-day moving averages are $6.28 and $6.91, respectively, indicating recent price stability. The 50-day moving average is $12.45, which could serve as a reference point for potential growth.

6. Market Sentiment: Despite a recent downward spiral, the stock is now considered oversold, which could suggest a potential trend reversal. Additionally, Wall Street analysts have expressed strong agreement that the company will report better earnings than predicted earlier.

In conclusion, ALX Oncology's current valuation, positive pipeline developments, strong buy ratings, insider buying, and technical indicators all point to a company that may be poised for growth. However, investors should remain mindful of the risks associated with biotech stocks and conduct thorough due diligence before making investment decisions.