ALX Oncology (NASDAQ:ALXO) Price Target Lowered to $2.20 at UBS Group

ALX Oncology (NASDAQ:ALXO) had its price target cut by UBS Group from $4.00 to $2.20 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

ALXO has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a report on Friday. Jefferies Financial Group downgraded shares of ALX Oncology from a “buy” rating to a “hold” rating and decreased their price target for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Finally, HC Wainwright cut their price objective on ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, ALX Oncology has a consensus rating of “Moderate Buy” and a consensus price target of $3.05.

ALX Oncology Price Performance

Shares of ALXO stock opened at $1.56 on Monday. The business’s 50 day moving average price is $1.62 and its 200-day moving average price is $2.33. ALX Oncology has a fifty-two week low of $1.19 and a fifty-two week high of $17.83. The firm has a market cap of $82.01 million, a P/E ratio of -0.52 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

Insider Activity at ALX Oncology

In related news, Director Rekha Hemrajani acquired 30,000 shares of ALX Oncology stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average price of $1.55 per share, with a total value of $46,500.00. Following the transaction, the director now directly owns 33,000 shares in the company, valued at approximately $51,150. This represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 14,443 shares of company stock valued at $23,309 in the last three months. Company insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in shares of ALX Oncology by 33.6% in the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock worth $50,000 after purchasing an additional 6,888 shares during the last quarter. Hsbc Holdings PLC purchased a new position in ALX Oncology in the second quarter worth about $63,000. GSA Capital Partners LLP bought a new position in shares of ALX Oncology in the third quarter worth approximately $88,000. Barclays PLC grew its holdings in shares of ALX Oncology by 243.6% during the third quarter. Barclays PLC now owns 59,502 shares of the company’s stock valued at $107,000 after buying an additional 42,185 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of ALX Oncology by 50.7% during the second quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock valued at $109,000 after acquiring an additional 6,080 shares in the last quarter. 97.97% of the stock is owned by 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.