ALX Oncology (NASDAQ:ALXO) Raised to "Buy" at Jefferies Financial Group

ALX Oncology (NASDAQ:ALXO - Get Free Report) was upgraded by analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $3.00 price target on the stock, up from their prior price target of $2.00. Jefferies Financial Group's price objective indicates a potential upside of 183.02% from the stock's previous close.

ALXO has been the topic of a number of other research reports. HC Wainwright decreased their target price on shares of ALX Oncology from $25.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ALX Oncology in a research report on Friday, January 24th. Finally, UBS Group reduced their target price on ALX Oncology from $4.00 to $2.20 and set a "buy" rating on the stock in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.14.

ALX Oncology Price Performance

ALXO stock traded down $0.25 during trading on Thursday, hitting $1.06. The stock had a trading volume of 3,405,867 shares, compared to its average volume of 978,049. The stock has a market cap of $55.91 million, a price-to-earnings ratio of -0.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The company's 50 day moving average price is $1.39 and its two-hundred day moving average price is $1.62. ALX Oncology has a 1-year low of $0.95 and a 1-year high of $17.83.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JSF Financial LLC purchased a new position in shares of ALX Oncology in the 4th quarter worth about $29,000. GSA Capital Partners LLP acquired a new stake in ALX Oncology during the 3rd quarter worth approximately $88,000. Barclays PLC raised its holdings in ALX Oncology by 243.6% in the third quarter. Barclays PLC now owns 59,502 shares of the company's stock valued at $107,000 after buying an additional 42,185 shares during the period. Sei Investments Co. acquired a new position in ALX Oncology during the fourth quarter valued at approximately $102,000. Finally, Bridgeway Capital Management LLC acquired a new position in ALX Oncology during the fourth quarter valued at approximately $125,000. Institutional investors and hedge funds own 97.97% of the company's stock.

About ALX Oncology

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.