HC Wainwright Reiterates Buy Rating for ALX Oncology (NASDAQ:ALXO)

ALX Oncology (NASDAQ:ALXO)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, ALX Oncology currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

ALX Oncology Stock Down 19.6 %

NASDAQ:ALXO opened at $1.48 on Wednesday. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. ALX Oncology has a 12-month low of $1.19 and a 12-month high of $17.83. The stock’s fifty day simple moving average is $1.49 and its 200-day simple moving average is $3.37. The firm has a market capitalization of $78.06 million, a P/E ratio of -0.50 and a beta of 1.04.

Insider Activity

In other news, Director Rekha Hemrajani bought 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were bought at an average price of $1.55 per share, with a total value of $46,500.00. Following the completion of the transaction, the director now owns 33,000 shares of the company’s stock, valued at $51,150. This trade represents a 1,000.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 33.40% of the company’s stock.

Institutional Trading of ALX Oncology

Several institutional investors have recently added to or reduced their stakes in ALXO. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ALX Oncology by 394.8% in the second 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 during the period. Hsbc Holdings PLC bought a new stake in ALX Oncology in the 2nd quarter valued at about $63,000. AQR Capital Management LLC grew its position in shares of ALX Oncology by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock worth $109,000 after purchasing an additional 6,080 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of ALX Oncology by 33.6% during the third 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 period. Finally, Algert Global LLC acquired a new stake in shares of ALX Oncology in the second quarter valued at approximately $249,000. 97.97% of the stock is currently 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.