ALX Oncology (NASDAQ:ALXO) Receives "Buy" Rating from HC Wainwright

ALX Oncology (NASDAQ:ALXO - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $25.00 price target on the stock.

Separately, Cantor Fitzgerald restated an "overweight" rating on shares of ALX Oncology in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.67.

ALX Oncology Price Performance

Shares of NASDAQ:ALXO traded up $0.05 during midday trading on Wednesday, hitting $1.84. The stock had a trading volume of 3,208,797 shares, compared to its average volume of 816,385. The company's 50-day moving average price is $1.49 and its 200-day moving average price is $3.39. ALX Oncology has a fifty-two week low of $1.19 and a fifty-two week high of $17.83. 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 company has a market capitalization of $97.05 million, a P/E ratio of -0.62 and a beta of 1.04.

Insider Activity

In related news, Director Rekha Hemrajani purchased 30,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of $1.55 per share, for a total transaction of $46,500.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 33.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ALX Oncology

Several hedge funds have recently modified their holdings of ALXO. Point72 Asset Management L.P. bought a new position in ALX Oncology in the second quarter valued at about $1,834,000. GSA Capital Partners LLP bought a new position in ALX Oncology in the 3rd quarter valued at approximately $88,000. Marshall Wace LLP raised its holdings in ALX Oncology by 423.0% in the 2nd 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 last quarter. SG Americas Securities LLC boosted its position in 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ALX Oncology by 394.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company's stock worth $39,000 after acquiring an additional 5,200 shares during the last quarter. 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.