ALX Oncology (NASDAQ:ALXO) Price Target Cut to $5.00 by Analysts at HC Wainwright

ALX Oncology (NASDAQ:ALXO - Free Report) had its price objective decreased by HC Wainwright from $25.00 to $5.00 in a research note released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other equities analysts have also weighed in on ALXO. Cantor Fitzgerald restated an "overweight" rating on shares of ALX Oncology in a report on Wednesday, December 18th. Jefferies Financial Group cut ALX Oncology from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $3.50.

ALX Oncology Trading Down 7.7 %

NASDAQ:ALXO traded down $0.13 on Friday, hitting $1.51. 905,727 shares of the stock were exchanged, compared to its average volume of 1,229,159. The stock has a market capitalization of $79.37 million, a price-to-earnings ratio of -0.51 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. ALX Oncology has a 52 week low of $1.19 and a 52 week high of $17.83. The company's 50-day moving average price is $1.61 and its 200 day moving average price is $2.42.

Insider Activity

In related news, Director Rekha Hemrajani acquired 30,000 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was bought at an average price of $1.55 per share, with a total value of $46,500.00. Following the acquisition, the director now 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 Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 14,443 shares of company stock worth $23,309 over the last ninety days. Insiders own 33.40% of the company's stock.

Institutional Investors Weigh In On ALX Oncology

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in shares of ALX Oncology by 33.6% during the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company's stock worth $50,000 after buying an additional 6,888 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of ALX Oncology in the second quarter valued at about $63,000. GSA Capital Partners LLP acquired a new stake in ALX Oncology in the 3rd quarter worth about $88,000. Barclays PLC boosted its holdings in ALX Oncology by 243.6% in the 3rd quarter. Barclays PLC now owns 59,502 shares of the company's stock valued at $107,000 after purchasing an additional 42,185 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of ALX Oncology by 50.7% during the second 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 during the period. 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.