HC Wainwright Has Lowered Expectations for ALX Oncology (NASDAQ:ALXO) Stock Price

ALX Oncology (NASDAQ:ALXO) had its price objective reduced by equities research analysts at HC Wainwright from $25.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 230.03% from the stock’s previous close. HC Wainwright also issued estimates for ALX Oncology’s FY2029 earnings at $0.63 EPS.

ALXO has been the topic of several other research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research note on Wednesday, December 18th. Jefferies Financial Group lowered shares of ALX Oncology from a “buy” rating to a “hold” rating and cut their price objective for the company from $12.00 to $2.00 in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

ALX Oncology Trading Down 7.1 %

Shares of ALXO stock opened at $1.52 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The stock has a fifty day simple moving average of $1.62 and a two-hundred day simple moving average of $2.39. The firm has a market capitalization of $79.90 million, a PE ratio of -0.51 and a beta of 0.98. ALX Oncology has a 52-week low of $1.19 and a 52-week high of $17.83.

Insider Buying and Selling

In other ALX Oncology news, Director Rekha Hemrajani purchased 30,000 shares of ALX Oncology stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the completion of the transaction, the director now owns 33,000 shares of the company’s stock, valued at approximately $51,150. This trade represents a 1,000.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 14,443 shares of company stock worth $23,309. Corporate insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC raised its position in shares of ALX Oncology by 243.6% during the 3rd quarter. Barclays PLC now owns 59,502 shares of the company’s stock valued at $107,000 after buying an additional 42,185 shares in the last quarter. XTX Topco Ltd purchased a new stake in ALX Oncology during the third quarter valued at approximately $578,000. Wellington Management Group LLP lifted its stake in shares of ALX Oncology by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 167,831 shares of the company’s stock valued at $305,000 after purchasing an additional 22,114 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of ALX Oncology by 308.4% in the 3rd quarter. Verition Fund Management LLC now owns 133,025 shares of the company’s stock worth $242,000 after purchasing an additional 100,454 shares during the period. Finally, Walleye Capital LLC increased its position in shares of ALX Oncology by 110.3% during the 3rd quarter. Walleye Capital LLC now owns 230,875 shares of the company’s stock valued at $420,000 after purchasing an additional 121,113 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

ALX Oncology Company Profile

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.