ALX Oncology (NASDAQ:ALXO) Price Target Raised to $9.00 at Piper Sandler

ALX Oncology (NASDAQ:ALXO - Free Report) had its target price lifted by Piper Sandler from $8.00 to $9.00 in a research report sent to investors on Thursday morning, MarketBeat reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts have also commented on the company. Jefferies Financial Group raised ALX Oncology from a "hold" rating to a "buy" rating and lifted their price target for the company from $2.00 to $3.00 in a research note on Thursday. UBS Group cut their target price on shares of ALX Oncology from $4.00 to $2.20 and set a "buy" rating on the stock in a research report on Monday, January 27th. HC Wainwright decreased their price target on shares of ALX Oncology from $25.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ALX Oncology in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4.14.

ALX Oncology Price Performance

Shares of NASDAQ:ALXO traded down $0.17 during trading on Thursday, hitting $0.89. 1,395,326 shares of the company were exchanged, compared to its average volume of 979,614. 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 1-year low of $0.89 and a 1-year high of $17.83. The company has a market capitalization of $47.13 million, a P/E ratio of -0.30 and a beta of 1.01. The business's 50 day moving average is $1.39 and its 200-day moving average is $1.60.

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Institutional Investors Weigh In On ALX Oncology

A number of institutional investors have recently modified their holdings of the company. Almitas Capital LLC bought a new position in ALX Oncology during the fourth quarter worth $2,042,000. Bank of America Corp DE raised its position in shares of ALX Oncology by 492.9% in the 4th quarter. Bank of America Corp DE now owns 1,035,326 shares of the company's stock worth $1,729,000 after acquiring an additional 860,703 shares in the last quarter. Bank of Montreal Can bought a new position in shares of ALX Oncology in the 4th quarter worth about $1,380,000. Two Sigma Advisers LP lifted its stake in shares of ALX Oncology by 64.6% in the 4th quarter. Two Sigma Advisers LP now owns 823,900 shares of the company's stock valued at $1,376,000 after purchasing an additional 323,400 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of ALX Oncology during the 3rd quarter valued at about $578,000. 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.