Brokerages Set ALX Oncology Holdings Inc. (NASDAQ:ALXO) Target Price at $8.50

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $8.50.

Several analysts have issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research note on Wednesday, December 18th. Jefferies Financial Group cut ALX Oncology from a “buy” rating to a “hold” rating and dropped their price target for the company from $12.00 to $2.00 in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of ALX Oncology in a report on Wednesday, December 18th.

ALX Oncology Stock Down 9.4 %

Shares of ALXO stock opened at $1.63 on Friday. ALX Oncology has a 52-week low of $1.19 and a 52-week high of $17.83. The stock has a market cap of $85.97 million, a price-to-earnings ratio of -0.55 and a beta of 0.98. The firm’s 50-day moving average is $1.61 and its 200-day moving average is $2.43. 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 Buying and Selling

In other news, Director Rekha Hemrajani acquired 30,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of $1.55 per share, with a total value of $46,500.00. Following the acquisition, the director now directly owns 33,000 shares in the company, valued at $51,150. This represents a 1,000.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 14,443 shares of company stock valued at $23,309. Insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

A number of institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC acquired a new stake in ALX Oncology in the 2nd quarter worth about $63,000. AQR Capital Management LLC raised its position in shares of ALX Oncology by 50.7% in the second quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock valued at $109,000 after buying an additional 6,080 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of ALX Oncology by 33.6% in the third quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock valued at $50,000 after buying an additional 6,888 shares during the period. Algert Global LLC acquired a new stake in ALX Oncology during the second quarter worth approximately $249,000. Finally, GSA Capital Partners LLP bought a new position in ALX Oncology during the 3rd quarter worth $88,000. Institutional investors own 97.97% of the company’s stock.

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.