Jefferies Financial Group Downgrades ALX Oncology (NASDAQ:ALXO) to Hold

ALX Oncology (NASDAQ:ALXO) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $2.00 price target on the stock, down from their previous price target of $12.00. Jefferies Financial Group’s price target suggests a potential upside of 23.46% from the company’s previous close.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of ALX Oncology in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, ALX Oncology has a consensus rating of “Moderate Buy” and an average target price of $8.50.

ALX Oncology Trading Up 9.5 %

Shares of ALX Oncology stock opened at $1.62 on Thursday. ALX Oncology has a 1-year low of $1.19 and a 1-year high of $17.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The stock has a market cap of $85.44 million, a P/E ratio of -0.54 and a beta of 1.04. The stock’s 50 day simple moving average is $1.49 and its 200-day simple moving average is $3.32.

Insiders Place Their Bets

In related news, Director Rekha Hemrajani purchased 30,000 shares of ALX Oncology stock in a transaction dated Monday, December 2nd. The shares were acquired at an average cost of $1.55 per share, with a total value of $46,500.00. Following the purchase, the director now owns 33,000 shares of the company’s stock, valued at approximately $51,150. The trade was a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 33.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ALX Oncology

A number of hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in ALX Oncology during the second quarter worth $1,834,000. GSA Capital Partners LLP purchased a new stake in shares of ALX Oncology in the 3rd quarter valued at $88,000. Marshall Wace LLP lifted its stake in ALX Oncology by 423.0% during the 2nd quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock worth $3,833,000 after acquiring an additional 514,133 shares in the last quarter. SG Americas Securities LLC boosted its holdings in ALX Oncology by 33.6% during the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock valued at $50,000 after acquiring an additional 6,888 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after acquiring an additional 5,200 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

About ALX Oncology

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.