ALX Oncology (NASDAQ:ALXO) Rating Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of ALX Oncology (NASDAQ:ALXO - Free Report) from a buy rating to a hold rating in a report published on Thursday, Marketbeat Ratings reports. The firm currently has $2.00 price target on the stock, down from their previous price target of $12.00.

A number of other equities research analysts have also recently commented on ALXO. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ALX Oncology in a report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $25.00 target price on shares of ALX Oncology in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, ALX Oncology currently has a consensus rating of "Moderate Buy" and an average target price of $8.50.

ALX Oncology Stock Performance

ALXO stock traded down $0.36 during mid-day trading on Thursday, hitting $1.48. The company had a trading volume of 2,717,151 shares, compared to its average volume of 824,143. 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 firm has a market cap of $78.06 million, a PE ratio of -0.50 and a beta of 1.04. ALX Oncology has a 12 month low of $1.19 and a 12 month high of $17.83. The stock's fifty day moving average price is $1.49 and its two-hundred day moving average price is $3.39.

Insider Activity at ALX Oncology

In related news, Director Rekha Hemrajani purchased 30,000 shares of ALX Oncology 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 transaction, the director now owns 33,000 shares in the company, valued at $51,150. This trade represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 33.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company's stock worth $39,000 after purchasing an additional 5,200 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of ALX Oncology in the second quarter worth $63,000. AQR Capital Management LLC raised its position in shares of ALX Oncology by 50.7% in the second quarter. AQR Capital Management LLC now owns 18,079 shares of the company's stock worth $109,000 after buying an additional 6,080 shares in the last quarter. SG Americas Securities LLC boosted its stake in ALX Oncology by 33.6% during the third quarter. SG Americas Securities LLC now owns 27,394 shares of the company's stock valued at $50,000 after buying an additional 6,888 shares during the period. Finally, Algert Global LLC purchased a new position in ALX Oncology during the second quarter worth about $249,000. 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.