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

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

Several other brokerages have also issued reports on ALXO. Jefferies Financial Group cut ALX Oncology from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research report on Friday, January 24th. Finally, HC Wainwright dropped their price objective on ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3.05.

ALX Oncology Price Performance

Shares of NASDAQ ALXO opened at $1.46 on Monday. The company has a market capitalization of $77.00 million, a PE ratio of -0.49 and a beta of 0.98. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $1.63 and its 200-day moving average price is $2.25. ALX Oncology has a twelve month low of $1.19 and a twelve month high of $17.83.

Insiders Place Their Bets

In other news, Director Rekha Hemrajani bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average cost 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 represents a 1,000.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 14,443 shares of company stock worth $23,309. Company insiders own 33.40% of the company’s stock.

Institutional Trading of ALX Oncology

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in shares of ALX Oncology by 423.0% during the second quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock valued at $3,833,000 after buying an additional 514,133 shares during the period. Privium Fund Management B.V. increased its position in ALX Oncology by 28.2% during the 3rd quarter. Privium Fund Management B.V. now owns 509,059 shares of the company’s stock valued at $926,000 after purchasing an additional 112,093 shares during the period. Renaissance Technologies LLC increased its position in ALX Oncology by 87.2% during the 2nd quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock valued at $2,642,000 after purchasing an additional 204,100 shares during the period. XTX Topco Ltd purchased a new stake in shares of ALX Oncology in the 3rd quarter worth approximately $578,000. Finally, Point72 Asset Management L.P. bought a new position in shares of ALX Oncology during the second quarter valued at approximately $1,834,000. 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.